Donald Trump’s hotel in Washington D.C. was essentially a bribery laundering operation during his presidency. But this being Trump it lost tons of money anyway:
Donald Trump’s luxury Washington hotel lost more than $70 million while he was in office despite reaping millions in payments from foreign governments, according to federal documents released by the House Committee on Oversight and Reform on Friday.
The committee, chaired by Rep. Carolyn B. Maloney (D-N.Y.), released hundreds of pages of financial documents on the property Friday that it received from the General Services Administration, the agency that has leased the federally owned property to Trump’s company since 2013. Trump was required to submit the documents to the GSA as a condition of his lease.
Maloney and Rep. Gerald E. Connolly (D-Va.) allege the documents show that Trump received an estimated $3.7 million from foreign governments and got “preferential treatment” from Deutsche Bank, which had previously loaned Trump $170 million to renovate the hotel.
The findings “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,” the two Democrats said in a news release.
Maloney and Connolly also wrote a 27-page letter Friday to GSA Administrator Robin Carnahan, saying the documents warranted further investigation.
Still, Trump has the the most important investment acumen of all: the ability to pull himself up by his bootstraps and inherit $400 million tax free.