Secret Bank Withdrawal Linked to Egyptian President Raises Questions About Trump’s Campaign Funds
Days before Donald Trump became president in January 2017, an unusual transaction occurred at a bank branch in Cairo. A manager at the National Bank of Egypt received a letter from an organization tied to the Egyptian intelligence service, requesting the withdrawal of nearly $10 million in cash. Bank employees promptly filled two large bags with bundles of $100 bills, which were then taken away by four men. The U.S. officials described the bags as weighing a combined 200 pounds and containing a significant portion of Egypt’s U.S. currency reserves.
Federal investigators discovered this withdrawal early in 2019, intensifying a secret criminal investigation that began in 2017. Classified U.S. intelligence suggested that Egyptian President Abdel Fatah El-Sisi aimed to contribute $10 million to Trump’s 2016 presidential campaign, potentially violating federal law prohibiting U.S. candidates from receiving foreign funds.
The Justice Department’s investigation, which sought to determine if money moved from Cairo to Trump, faced numerous hurdles. Top Justice Department officials blocked prosecutors and FBI agents from obtaining critical bank records, halting the case by the fall of 2019. Then-Attorney General William P. Barr expressed doubts about the sufficiency of evidence to continue the probe.
This internal conflict occurred during a tense period for the Justice Department, with Trump accusing it of bias in its investigation into Russian election interference. Barr directed U.S. Attorney Jessie Liu to review the classified intelligence and later instructed FBI Director Christopher A. Wray to supervise the agents pursuing Trump’s records.
In June 2020, the newly appointed prosecutor closed the case, citing insufficient evidence to prove the allegations beyond a reasonable doubt. The conclusion sparked internal disagreements, with some investigators arguing that they had not been allowed to go far enough.
“This case should concern every American,” said an anonymous source familiar with the investigation. “The Justice Department is supposed to follow evidence wherever it leads.”
Trump’s campaign dismissed the allegations as “Fake News,” with spokesman Steven Cheung asserting that the investigation found no wrongdoing and was closed.
Egypt’s Government Declined to Comment on the Investigation
Despite the probe being closed, the Sisi regime’s attempts to influence U.S. officials were later highlighted by the bribery conviction of Senator Bob Menendez. Trump, who praised Sisi as “my favorite dictator,” shifted U.S. policy in ways that benefited the Egyptian leader during his presidency.
The Egypt investigation, shrouded in secrecy for over three years, came to light only when CNN reported on a mysterious court hearing involving an Egyptian bank. The investigation revealed that investigators had identified a $9,998,000 cash withdrawal in Cairo, matching the amount Trump injected into his campaign weeks earlier. The records indicated a complex series of transactions involving the Research and Studies Center, suspected of being a front for Egypt’s General Intelligence Service.
Mueller’s team, which initially handled the investigation, obtained records of Trump’s bank accounts and analyzed transactions around the 2016 election. However, the records provided no evidence of money from Egypt. In 2018, the Mueller team subpoenaed the National Bank of Egypt, leading to a secret court battle and the eventual release of nearly 1,000 pages of bank records.
The investigation faced significant resistance, with Barr and Liu expressing doubts and concerns over the evidence. Barr’s skepticism led to the appointment of Timothy Shea, who halted the investigative steps proposed by Liu’s team. In June 2020, acting U.S. Attorney Michael Sherwin closed the case, citing a lack of evidence.
Although the case was closed, some investigators believe it was prematurely ended due to political pressure and concerns about interfering in the 2020 presidential election. The Biden administration, focused on the January 6 Capitol attack, did not reopen the investigation, and the statute of limitations for bringing charges expired in January 2022.
This exclusive report sheds light on the complex and politically sensitive nature of the investigation, raising questions about the extent of foreign influence on U.S. elections and the challenges faced by those tasked with upholding the law.
