Oversight Dems release new evidence that Trump concealed millions of dollars in losses...

[Nevilledog]

Link to tweet

Tweet text:
Oversight Committee
@OversightDems
BREAKING: @OversightDems releases new evidence that #Trump concealed millions of dollars in losses & outstanding debts & had several dangerous conflicts of interests related to his Washington hotel.

READ:

Committee Uncovers Evidence that Trump Concealed Millions in Losses, Hid Debts, and Received...
Washington, D.C. (October 8, 2021)—Today, Rep. Carolyn B. Maloney, the Chairwoman of the Committee on Oversight and Reform, and Rep. Gerald E. Connolly, the Chairman of the Subcommittee on Government...
oversight.house.gov
7:59 AM · Oct 8, 2021

https://oversight.house.gov/news/press-releases/committee-uncovers-evidence-that-trump-concealed-millions-in-losses-hid-debts

Washington, D.C. (October 8, 2021)—Today, Rep. Carolyn B. Maloney, the Chairwoman of the Committee on Oversight and Reform, and Rep. Gerald E. Connolly, the Chairman of the Subcommittee on Government Operations, sent a letter to the General Services Administration (GSA) detailing new concerns about former President Trump’s lease for the Trump Hotel in Washington, D.C., his failure to disclose significant losses and debts in public filings and lease documents, and his conflicts of interest as President. The Committee’s discoveries were based on documents recently obtained from GSA.

“The documents provided by GSA 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 Chairs wrote.

“Specifically, the Committee found that President Trump provided misleading information about the financial situation of the Trump Hotel in his annual financial disclosures; received undisclosed preferential treatment from a foreign bank on a $170 million loan to the hotel that the President personally guaranteed; accepted millions of dollars in emoluments from foreign governments without providing an accounting of the money’s source or purpose; concealed hundreds of millions of dollars in debts from GSA when bidding on the Old Post Office Building lease; and made it impossible for GSA to properly enforce the lease’s conflict-of-interest restrictions by engaging in opaque transactions with other affiliated entities. As discussed in this letter, this new evidence raises many questions that require further investigation and action by the Committee.”

Despite the precedent set by every modern American president, during his term in office, President Trump retained his financial interest in his various business entities, including the Trump Hotel. The hotel opened to the public in September 2016, just weeks after Mr. Trump accepted the Republican nomination for President. Throughout President Trump’s term, there were numerous reports about foreign and domestic interests patronizing the Trump Hotel as a way to curry favor with the President.

*snip*

[lame54]

1. Blah blah blah...

We're on our 3rd mountain of evidence
But hey
Be patient - these things take time

What a crock

[jimfields33]

2. Great. He'll probably notify the IRS for an addendum

He’ll provably get to skip paying taxes for another 10 years as he adds these new loss’ on future tax filings.

[Marius25]

3. Sounds criminal. Will he be prosecuted?

[hamsterjill]

5. Wow! If I did that I'd probably be in jail by now.

Why isn’t he?

[keithbvadu2]

6. Wonder how that affects his asking price for the business?

Wonder how that affects his asking price for the business?

Just the business because he does not own the bldg.

All those 'patrons' renting blocks of rooms that never were used.

It would be interesting to see their anticipated cash flow in the sale prospectus.