Capital One Cites Money-Laundering Concerns in Trump Account Closures
Capital One has informed a judge it closed Trump Organization accounts due to money-laundering concerns, not the Jan. 6 Capitol riot. The bank made the statements in a legal filing seeking to dismiss a lawsuit from Trump-affiliated businesses.
Advertisement
Capital One stated it terminated accounts associated with the Trump Organization in 2021 following an internal review that identified concerns about potential money laundering. The bank communicated this position in court documents, urging a judge to dismiss a lawsuit brought by businesses connected to former President Donald Trump.
The bank's legal filing argued that a months-long internal investigation prompted the account closures, not the events of January 6, 2021. Hundreds of accounts belonging to Trump-affiliated entities were impacted by Capital One's decision.
Related Topics
Article Ratings
How do you feel about this story?
National Desk
Sign in to follow this author from their profile.
Discussion (0)
Join the Conversation
Join the conversation
Sign in to share your thoughts, reply to readers, and like comments.
No comments yet. Be the first to comment!