Trump misled about D.C. hotel finances, House panel says

nbcnews.com ^ | October 8, 2021 | Rebecca Shabad

[lowbridge]

Former President Donald Trump provided “misleading information about the financial situation” of his hotel in Washington while he was in office, according to the House Oversight and Reform Committee.

The committee, which recently obtained documents from the General Services Administration, found that Trump reported his hotel in downtown D.C. brought in $150 million in income while he served in the White House, but the hotel actually incurred more than $70 million in losses.

“By filing these misleading public disclosures, President Trump grossly exaggerated the financial health of the Trump Hotel,” the committee said Friday in a news release.

The Trump Organization did not immediately return NBC News' request for comment.

When Trump first applied to lease the Old Post Office Building in 2011 for his hotel, he also provided the federal government with information that the committee said “appeared to conceal certain debts.” Records show Trump specifically didn’t show outstanding balances for properties he owned in other major cities like New York, Chicago and Las Vegas, the panel said.

The committee also said the newly obtained documents show that from 2017 through 2020, the Trump International Hotel in D.C. received about $3.7 million in payments from foreign governments, which it said raises “concerns about possible violations of the Constitution’s Foreign Emoluments Clause.”

While he served in the White House, Trump also received “a significant financial benefit” from Deutsche Bank that allowed him to postpone making payments on the $170 million loan for the hotel, the committee said.

[Skywise]

Oh good grief.

[Fido969]

Wake me up when they start investigating the Big Guy.

[JaguarXKE]

Journalism - RIP

[mewzilla]

Lives, fortunes, and sacred honor...

The Trump family has walked the walk.

God bless them.

And God save them, and us, from Deep State.

[dfwgator]

Journalism = Propaganda

[Vermont Lt]

I will give you odds that the Senate Oversight committee does not know the difference between revenues, income, net income, EBITA, abnd profit.

And journalists know even less.

I guarantee you they are not comparing apples to apples.

[Veto!]

Horrors!!!

Meanwhile IdiotJoe wrecks the entire economy, floods the US with illegals, causes shortages of everything, raises gas prices, and supports a sex-addict son.

[farmguy]

Well, which was it?

Was Trump unduly profiting by his being in the White house
- or -
Was Trump losing his butt?

[Gene Eric]

ABC is Disney. Disney is a malicious corporation.

CNN is ATT — telecom

NBC, MSNBC are Comcast — telecom

BigNews is a heaping pile of BigLies.

[DoughtyOne]

This from people, many of which have never held down a real
job in their lives, much less operated as the owner of a
major multi-million dollar business.

What money manipulations he uses that are legal, are legal.

You can’t spin it around and make it evil.

Last year was a tough year for businesses. I’m sure
creative money management played in. I would expect it
to.

Trump wasn’t looking at who used the hotel. He’s
president and had his hands full there.

He wasn’t seeing the dailies at the hotel.

Good grief these people are twisted.

[mass55th]

So somebody is supposed to immediately report to the media when they lose money in their business? I thought that was done on IRS forms once a year.

[Steve_Seattle]

" . . . brought in $150 million in income while he served in the White House, but the hotel actually incurred more than $70 million in losses.“

Income = gross revenue, which is not the same as net gain or loss. And while he was president, the claim was that he was profiting from his presidency. These animals always play things both ways.

[G Larry]

So?

[G Larry]

So?

[DoodleDawg]

The committee also said the newly obtained documents show that from 2017 through 2020, the Trump International Hotel in D.C. received about $3.7 million in payments from foreign governments, which it said raises “concerns about possible violations of the Constitution’s Foreign Emoluments Clause.”

I believe that the Supreme Court tossed out the last of the emolument clause cases.

[unixfox]

I guess these f-sticks want the IRS to investigate now?

[T. Rustin Noone]

Color me confused.

I thought DJT divested himself over all control of his hospitality empire prior to entering the White House. So how does he become liable for information provided by the organization that bears his name while he was serving as 45?

I that’s the way they want to play, then he should just tell them he’s changed his mind and he’ll take 4 years of his salary after all - plus interest.

[2 Kool 2 Be 4-Gotten]

Good grief Charlie Brown!

[Steve_Seattle]

"Well, which was it? Was Trump unduly profiting by his being in the White house or losing his butt?"

They would explain this the same way they explained how Trump could simultaneously be a rabid America-first nationalist and a treasonous tool of Putin. And how he could simultaneously be a rabid anti-Semite and hire Jews in his inner circle. In other words, by lying through their teeth.