Trump in legal battle with Capital One after accounts closed over money laundering concerns in 2021
Summary
Capital One closed some bank accounts linked to President Donald Trump and his organization in 2021 due to concerns about money laundering. President Trump has filed a lawsuit against the bank, claiming the account closures were politically motivated after the January 6 Capitol riot.Key Facts
- Capital One closed certain accounts connected to President Trump and his organization in 2021.
- The bank said the closures were due to concerns about money laundering.
- Money laundering means hiding the origin of illegally obtained money.
- President Trump sued Capital One, saying the closures were an act of political retaliation.
- The lawsuit refers to events following the January 6 attack on the U.S. Capitol.
- An anti-money laundering expert, Ross Delston, has discussed the case publicly.
- The legal battle is ongoing as both sides present their arguments.
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