US President Donald Trump has filed a lawsuit of five billion dollars (about Rs 41 thousand crore) against the country’s big bank JP Morgan Chase and its CEO Jamie Dimon. Trump alleges that the bank had closed the accounts of him and his companies only for political reasons. The lawsuit has been filed in Miami-Dade County Court, Florida. Trump says that in February 2021, just weeks after he stepped down from the presidency in January 2021, JPMorgan suddenly closed many of his bank accounts by giving only 60 days’ notice. The bank neither gave any concrete reason nor gave any clear answer.
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Trump and his company suffered a loss of millions of dollars
According to Trump, this decision of the bank caused a loss of millions of dollars to him and his companies. His business was badly affected. He and his companies were forced to quickly open new accounts in other banks. All this was done because the political environment at that time was against Trump.
Trump accused of political revenge
It is written in the lawsuit filed on behalf of the US President, ‘JP Morgan excluded Trump and his companies from the banking system because they felt that the political trend at that time was in favor of doing so.’ That is, Trump’s direct allegation is that this decision was not taken out of business, but out of political vendetta.
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The bank rejected Trump’s allegation
At the same time, JP Morgan has completely rejected these allegations. The bank said in a statement that it regrets the lawsuit. They did not close Trump’s accounts for political reasons. This case is baseless. A bank spokesperson said, ‘We do not close anyone’s accounts for political or religious reasons. We close accounts only when they pose a legal or regulatory risk to the company.
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