Donald Trump lost millions of dollars in luxury hotel while he was president and had to ask for help

October 10, 2021

1 minute read

The luxurious Trump Hotel in Washington DC.

Photo: Kevin Dietsch / Getty Images

Donald trump lost more than $ 70 million at your luxurious hotel in Washington dc, very close to the White House, while he was president, forcing him to ask for help.

This was revealed by documents published by the House Oversight and Reform Committee, overseen by the Democrat Carolyn maloney, and that you are investigating the ex-president’s business from the United States.

This loss in the luxurious hotel forced him to request a pardon from Deutsche Bank in the payments of a loan, an institution that granted the president a “Undisclosed preferential treatment”, which however should have been reported because the bank has substantial business in the country.

In 2013, the General Services Administration (GSA) rented the hotel, a business between the then president and the government that he himself headed.

Money from foreign governments

The research states that, Trump also received some $ 3.7 million from foreign governments, which were not enough to avoid losses.

Experts in ethics of the government affirm that the then president should not have accepted this money for representing a interest conflict in his capacity as president, and because he can represent a violation of the Emoluments Clause, which expressly prohibits that United States officials receive payments or perks from “foreign kings, princes, or states.”

The Trump Organization he also had to inject $ 27 million to help this luxurious 263-room facility, which, without success, has been trying to sell since 2019.

Reuters highlights the fact that the former president – contrary to what the investigation maintains – claimed that with the building earned more than $ 150 million while he was in office.

This is the first public disclosure of the financial statements that were audited to the hotel. Those who investigate say that while he was president, Trump hampered their work and that it was until last July that they found some of the documents they were looking for. The Associated Press reports that it requested a position from the Trump Organization, but received no response at the time of the report.