Top Line

Former President Trump’s Washington, D.C. hotel received millions of dollars in payments from foreign governments and preferential treatment from lenders during his term – yet lost more than $70 million, According to Democratic lawmakers who issued a trove of papers from the House Committee on Inspection and Reform.

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Committee chairman Rep. Carolyn B. Maloney (D-NY) and Rep. Gerald E. Connolly (D-VA) claimed that financial documents released Friday by the committee showed Trump received about $3.7 million during his term. foreign governments, and Deutsche Bank allowed them to defer payments for six years on a $170 million loan taken at the Trump International Hotel in Washington, DC.

The documents came from the General Services Administration (GSA), a federal agency that leased state-owned DC property to Trump in 2013.

The newspapers allege that in addition to payments from foreign governments, Trump’s company had to transfer $24 million to the hotel to cover losses.

Maloney and Connolly wrote that the findings “require further investigation and action.”

It is the first time that congressional investigators have reviewed and released the former president’s complex and controversial finances, According to CNN.

important quotes

“The documents … raise new and troubling questions about former President Trump’s leasing with the GSA and the agency’s ability to manage conflicts of interest for the former president during his tenure, when He was effectively on both sides of the contract as landlord and tenant,” the representatives wrote in their letter.

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