Donald Trump Bank Accounts: American bank Capital One has alleged that it has decided to close the bank accounts linked to Trump's family business amid money laundering concerns.

Why did Capital One take action against Donald Trump?

Donald Trump: US President Donald Trump is once again in the headlines. However, this time the reason isn't his decision to go to war with Iran or impose tariffs on any country, but rather something different. In fact, in 2021, US bank Capital Bank closed more than 300 bank accounts linked to Trump and the Trump Organization.

The bank did so after discovering suspicious financial activity in these accounts. This is the first time in history that a major US bank has admitted in court that it had closed bank accounts linked to Trump and his family business over money laundering concerns.

What explanation did Trump give?

However, Trump is not one to remain silent. After becoming president for the second time, Trump and his son, Eric, filed a lawsuit against Capital One in a Florida federal court. Trump alleged that Capital One illegally closed his accounts for political reasons following the January 6th attack on the US Capitol. In court documents, the bank stated that the decision to close the accounts was made after months of analysis and careful review by Capital One's AML team, and that the bank's policies and regulatory guidance were fully complied with.

No direct accusations against Trump

The bank also stated that the Trump Organization is not being directly accused of money laundering, but rather that the accounts have been closed based on suspected risks. This has nothing to do with politics. The Trump Organization is a private global holding company owned by President Trump and his family. It is involved in luxury real estate, golf courses, and resorts. It is also involved in the entertainment industry, having organized the popular reality show "The Apprentice" and pageants like Miss Universe.