Capital One Closed Trump Accounts Over Money Laundering

You know — maybe President Donald Trump and his representatives should just stop suing people. Because it seems that the bulk of his lawsuits only end in one of two ways: a humiliating defeat, or the exposure of corruption that people didn’t even know about until the suit and the circumstances surrounding it make headlines.

The latter is the only reason we know he sued the IRS, which is part of the executive branch he’s in charge of, and that he settled his own suit with his own federal agency, and in the settlement he was self-granted immunity for himself and his family from IRS investigations. Now, after one of Trump’s financial holding companies sued Capital One in 2021, claiming the financial institutions closed Trump’s accounts for political reasons, we’re finding out Capital One actually closed said accounts over allegations of money laundering.

As corrupt as we all know Trump, his family and his administration are, we wouldn’t know the full extent of it if he didn’t keep drawing so much attention to it.

From the Associated Press:

Trump alleges that Capital One illegally closed his accounts for political reasons, following the Jan. 6 attacks on the U.S. Capitol.

Capital One wants the lawsuit dismissed.

“The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance,” the bank said in the court filing. The term “AML” is an abbreviation for anti-money laundering.

Trump has sued Capital One, as well as JPMorgan Chase, for allegedly debanking him after he left office in 2021. Debanking occurs when banks shut down customer accounts because they believe they pose financial, legal or reputational risks to the banks.

Both banks have denied they severed their relationships with the president, his sons, and other related businesses for political reasons. The lawsuit against JPMorgan Chase is seeking damages of $5 billion. JPMorgan has said it does not close accounts for political reasons, but closes accounts “with or without cause” and also accounts that create “legal or regulatory risk.”

So, actually, two separate banks closed accounts associated with Trump in the same year, with one bank saying it suspected him of money laundering, and the other being vague about “legal or regulatory risk,” but saying plainly that it doesn’t close accounts over politics.

What’s wild, though, is that according to AP, the lawsuits Trump filed against Capital One and JPMorgan Chase had “laid dormant for months,” until last month, when his legal team filed an amended lawsuit that alleged the bank debanked him over Jan. 6, which, as all of us who have a brain and a non-MAGA-fied capacity to discern logic and reason know he was directly responsible for, because if he hadn’t spent months spreading thoroughly debunked election fraud propaganda — which he continues to spread to this day — there would have been no riot at the U.S. Capitol.

Anyway, Capital One says the amended case filed by Trump’s attorneys rests on “new theories based on cherry-picked quotations.”

But Trump’s people just keep on doubling down, without mentioning the money laundering allegations, of course.

“Capital One, along with other major banks, de-banked President Trump, his family, and his businesses for blatantly political reasons,” a spokesperson for Trump’s legal team said Monday. “President Trump’s powerful lawsuit holds Capital One accountable for its disgraceful conduct, and we look forward to seeing this matter through to a just and proper conclusion.”

Trump’s representatives may be trying to boost the narrative that banks are closing his accounts because they’re just really mean anti-Trump institutions, but what the media, influencers, and the rest of the internet seem far more interested in is what they would rather omit from the discussion: the damn alleged money laundering.

Anyway, now is as good a time as any to remind everyone that Trump became some $2 billion richer last year from his investments in cryptocurrency, which he called “a scam against the dollar” just a few years prior, and that — in totally unrelated news, I’m sure — he signed multiple executive orders aimed at boosting the cryptocurrency industry.

So, you know, maybe he’s a corrupt con-man who is using the office of the presidency to bolster his grifting.

Just a thought.

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