New court documents released Friday show JPMorgan Chase told President Donald Trump a month after the January 2021 breach of the U.S. Capitol that the bank was closing his accounts.
The disclosure was made amid a $5 billionlawsuitTrump filed against JPMorgan and its CEO Jamie Dimon.
JPMorgan, thenation’s largest bank, said for the first time late Friday thatit cut off more than 50 Trump accounts in February 2021, shortly after Mr. Trump’s first term ended.
The accounts included those for Trump hotels, housing developments and retail shops in Illinois, Florida and New York, as well as Mr. Trump’s personal private banking relationship that handled his inheritance from his father, according to letters filed to the court.
JPMorgan did not specify in those letters a specific reason for the mass account closings.
In one unsigned note to Mr. Trump, dated Feb. 19, 2021, the bank wrote that he would need to“find a more suitable institution with which to conduct business.”
The letter closed with, “Thank you for your prompt attention to this matter” - a phrase that President Trump often uses.
As NYTimes reports, the President has maintained for years that his bank account closures were politically motivated, and a spokesperson for his legal team saidthe newest court documents are “a devastating concession that proves President Trump’s entire claim.”
“[JPMorgan] admitted tounlawfully and intentionally de-banking President Trump, his family, and his businesses, causing overwhelming financial harm,” the spokesperson said.
“President Trump is standing up for all those wrongly debanked by JPMorgan Chase and its cohorts, and will see this case to a just and proper conclusion.” the attorneys added.
Source: ZeroHedge News
