Trump: My D.C. Hotel Made $150M. House Panel: It Lost--Bigly.

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The Daily Beast
@thedailybeast
Former President Donald Trump repeatedly misled the federal government about the “financial situation” of his Washington, D.C., hotel, according to a House Oversight and Reform Committee investigation

Trump: My D.C. Hotel Made $150M. House Panel: It Lost—Bigly.
Millions in foreign contributions may have also been Emoluments Clause violations, the House Oversight and Reform Committee found.
thedailybeast.com
9:41 AM · Oct 8, 2021

https://www.thedailybeast.com/trump-claimed-his-dc-hotel-made-dollar150-million-house-panel-says-it-lost-bigly

Former President Donald Trump repeatedly misled the federal government about the “financial situation” of his Washington, D.C., hotel, according to a House Oversight and Reform Committee investigation.

A trove of documents obtained by the committee from the General Services Administration were released Friday, detailing the Trump property’s finances and showing that the hotel had actually lost tens of millions of dollars while the ex-president was claiming it had made more than $150 million. In a 27-page letter to the General Services Administration, the House panel committed to further investigation.

The release was first reported by NBC News and The Washington Post.

“The documents provided by GSA raise new and troubling questions about former President Trump’s lease with GSA and the agency’s ability to manage the former President’s conflicts of interest during his term in office when he was effectively on both sides of the contract, as landlord and tenant,” Committee Chairwoman Rep. Carolyn Maloney (D-NY) and Subcommittee on Government Operations Chairman Gerry Connolly (D-VA) wrote to GSA Administrator Robin Carnahan.

According to the documents, Trump reported an income of $156.5 million from the hotel between 2016 and 2020. However, while reporting that income, the hotel actually lost more than $73 million during that four-year period, a figure Trump did not report. Throughout that period, one of Trump’s holdings companies, DJT Holdings LLC, also loaned the hotel $27 million, $24 million of which was converted into capital contributions that were not repaid.

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