Capital One on Friday told a federal court that it closed about 385 accounts belonging to the Trump Organisation over anti money-laundering concerns.

It’s the first time a sitting president’s family will be linked to financial crime allegations.

Capital One made submission after the Trump Organisation accused it of deliberately closing hundreds of its account over the political fallout and backlash of January 6 riot at the Capitol.

The bank denied the allegation arguing that its financial crimes team recommended the closure over anti-money-laundering concerns following “months of analysis and a careful review” of the hundreds of accounts.

Capital One’s lawyers wrote that their filings “make clear that Capital One closed Plaintiffs’ accounts for anti-money laundering (‘AML’) reasons.”

The Trump Organisation maintained its defence that Capital One only shut down their accounts in an effort to distance itself from institution linked to Mr Trump after the Capitol riot and loss of his re-election bid in 2021.

Capital One also argued that its contract gave the bank the liberty to close customers’ accounts “at any time, for any or no reason and without notice” — a same clause the Trump Organisation did not oppose when it began banking with Capital One.

That argument won a similar suit in March after Judge Roy Altman ruled that the broad language of the contract gave the bank the necessary leverage to close any account without being challenged.