The Minnesota Bank & Trust has cut ties with MyPillow CEO Mike Lindell a month after they described him as a “reputation risk.”
According to Insider, the bank sent a letter to Lindell notifying him that his accounts will be closed by February 18.
“Any remaining collected balance in the account scheduled to be closed will be mailed to the address we have on file. Alternatively, before February 18, 2022, you may transfer, using online banking, the remaining balance directly to your other banking institutions,” the letter said.
Lindell told Insider that his accounts at the bank were connected to other business ventures outside his pillow business like Frank Speech and his recovery network for people with addiction.
Minnesota Bank & Trust was one two financial institutions Lindell says is trying to “de-bank” him over concerns that they could face fallout related to having him as a client. The other being Heartland Financial.
During an appearance on Steve Bannon’s podcast last month Lindell played an audio recording of a phone call from a person he claim is a bank official.
“Just because of our organization saying, ‘Well, why are we connected with somebody that could be in the news.’ And, not that the FBI is even sniffing and looking, but what if somebody came in and said, ‘You know what, we are gonna subpoena all his account records…and then also we make the news. So it’s more of a reputation risk,” the person in the recording said.
Lindell said at the time that the banks gave him 30 days to close his accounts but he will not comply.
He identified the man in the recording as Tom Cardle, a senior vice president at Minnesota Bank & Trust. Though Cardle did not offer any comment, Insider notes that the phone number was linked to an office line associated with him.
Lindell told the outlet he believes “someone” had “gotten to” the bank and motivated it to terminate its relationship with him.
“I’ve been in the news every day for a long time now,” Lindell said. “They just want to attack Mike Lindell and close his accounts. That’s what I think.”
Lindell is one of Donald Trump’s staunchest supporters and proponent of the big lie. He has spent millions of his fortune in an attempt to prove that there was evidence of widespread voter fraud in the election. Last month, the select House committee investigating the Jan. 6 Capitol attack issued a subpoena for Lindell’s phone records. He later sued House Speaker Nancy Pelosi and Verizon in an attempt to block the company from turning over his records.
