Trump hid $70 million in losses on his DC hotel, got a special break on a loan from Deutsche Bank, and received $3.7 from foreign governments as president.
Trump Took Millions From Foreign Governments And Got A Break On His DC Hotel Loan From A Foreign Bank
According to documents released by the House Oversight Committee:
- While in Office, President Trump Received Preferential Treatment Potentially Worth Millions from a Foreign Bank. The documents show that in 2018, Deutsche Bank provided President Trump with a significant financial benefit by allowing him to delay making principal payments on the Trump Hotel’s $170 million loan—which Trump had personally guaranteed—for a period of six years. Without this deferral, the hotel may have needed to pay tens of millions of additional dollars to Deutsche Bank at a time when it was already facing steep losses. Mr. Trump did not publicly disclose this significant benefit from a foreign bank while he was President.
- The Trump Hotel Received Over $3.7 Million from Foreign Governments. Based on the Committee’s analysis, from 2017 through 2020, the Trump Hotel received an estimated $3.7 million in payments from foreign governments, raising concerns about possible violations of the Constitution’s Foreign Emoluments Clause. This amount would have been sufficient to cover over 7,400 nights at the Trump Hotel at the average daily rate. Former President Trump failed to disclose details about these payments to GSA, and he “donated” to the Treasury only the small portion of these payments that his company determined to be profits.
Trump Hid Payments From Foreign Governments And DC Hotel Losses From The Government
Trump ran up $70 million in losses from the DC hotel, as he claimed in his financial disclosure forms that the hotel was profitable, Trump was using the presidency to make millions of dollars from foreign governments and defer his debt payments.
If Trump didn’t report these deals on his tax returns, he is setting himself up for potential local, state, and federal criminal charges.
Trump’s entire business is a house of cards.
He survives by piling up huge debts while lying about his profits so that he can borrow more money to run up more debt. All the while, Trump and his business criminally avoid taxes.
Trump needs a political comeback because he is financially sinking, and it looks like all of his schemes have finally caught up to him and should result in criminal charges.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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