By John Wolf | Reuters
A US House of Representatives panel said Friday that former US President Donald Trump’s Showcase Hotel in Washington, a popular gathering place for supporters and foreign dignitaries, bled millions of dollars during his tenure.
The House Committee on Oversight and Reform said recently obtained government documents raise “disturbing” questions about the Trump International Hotel, a historic building that the Trump organization leases from the federal government.
According to the Democratic Control Committee, Trump reported that the hotel earned more than 150 150 million during his tenure, but actually lost more than 70 70 million.
The committee found that the hotel received 3. 3.7 million in payments from foreign governments – the equivalent of more than 7,400 nights at the hotel – a potential conflict of interest.
The committee said the hotel paid a portion of the money to the US government but failed to provide the GSA with full details of the payments.
The committee’s investigation was based on documents released by the US government’s General Services Administration, which manages federal property.
Clauses in the US Constitution prohibit the President from receiving payments, or receiving “cash” from foreign governments.
Trump’s lawyers have argued in court cases that his ownership of the hotel did not violate those constitutional provisions.
A spokesman for the Trump organization did not immediately respond to a request for comment. The GSA did not immediately respond to a request for comment.
Congressional Democrats say the GSA stopped investigating Trump’s business while he was in office, but in July 2021 finally released the documents they were looking for.
The committee found that Trump transferred millions of dollars through other businesses, complicating the ability to enforce GSA provisions that barred him from collecting profits from the hotel.
The committee also found that it hid the loans when it was bidding for the use of the property in 2011 and failed to state that the loan terms from Deutsche Bank AG were favorable to the hotel’s renovation. Used to provide financial support.
A Deutsche Bank representative declined to comment on the record.