The surprise resignation of Donald Trump’s personal banker at Deutsche Bank appears to have been related to a real estate deal she did with a company linked to Jared Kushner.
According to a Financial Industry Regulatory Authority disclosure, former Deutsche Bank private banker Rosemary Vrablic was “permitted to resign” in December after the conclusion of an internal investigation into her real estate dealings with a client.
In August, Deutsche confirmed to the New York Times that it had opened an internal investigation into Vrablic’s $1.5 million purchase of a Park Avenue apartment.
Vrablic purchased a one-bedroom, one-bath unit at 715 Park Ave. with two other Deutsche Bank staffers in 2013 from Bergel 715 Associates, an entity that lists Kushner as a limited partner.
In 2018, Vrablic sold the unit, which property records revealed she had transferred to a limited liability corporation registered to her home address, for more than $1.8 million.
Based on an update to Vrablic’s Finra BrokerCheck page, Deutsche’s probe of that real estate deal appears to have led to her departure.
While the Finra notice does not mention which real estate deal prompted Vrablic’s exit from Deutsche, one of the other bankers involved in the same 715 Park purchase, Dominic Scalzi, resigned at the same time as Vrablic.
“The representative engaged in undisclosed activities related to a real estate investment by the representative,” reads the allegation. “Including the purchase of the property from a client-managed entity, and the formation of an unapproved outside entity to hold the investment.”
Vrbalic, 60, retired quite suddenly in late December, just weeks before Deutsche Bank cut ties with her former client, former President Donald Trump, for whom she arranged hundreds of millions of dollars worth of loans over a decade-long relationship that left Deutsche on the hook for a reported $340 million.
Kushner and his family were clients of Vrablic’s before she joined Deutsche Bank, where Kushner introduced her to his father-in-law, Trump, according to Kushner’s testimony before Congress in 2017.
Vrablic then took on Trump as a private banking client despite the fact that he already owed the bank millions.
Deutsche announced that it would no longer do business with Trump after the deadly Capitol insurrection on Jan 6.