![]() As a result, reporter David Enrich writes, bank executives were happy not only to ignore repeated, glaring red flags, but to go along with Trump’s cornucopia of financial lies.Įnrich brings the receipts. For one, Deutsche had a “ravenous appetite for risk,” including the risk of doing business with a guy whose name was synonymous in some quarters with bankruptcy. In the meantime, however, a report from The New York Times about the president’s relationship with the German lender has shed some light on the matter. Trump” the bank is expected to start handing over to congressional committees next month. ![]() Thanks to Democrats’ newly obtained subpoena power, the answer may be revealed through the “extensive internal documents and communications about Mr. The spokesperson went on to say that if Trump believes "these financial statements are inaccurate, the Trump Organization has a duty to correct the certified statements it previously submitted" to the GSA.One of the great mysteries of the business world is why Deutsche Bank lent financial pariah Donald Trump $2 billion over two decades, when other firms treated him like an infectious disease capable of wiping out entire populations. The 2018 financial statement, however, stated that principal payments were not due 'until maturity,' which will be in 2024." "The statement indicated that no principal payments were required 'until August 12, 2018.' The certified 2017 financial statement included the same information. "For example, on December 28, 2016, Trump Organization CFO Allen Weisselberg submitted a copy of the Trump Hotel's audited financial statements certifying them to be correct," the spokesperson added. In response, a House Oversight spokesperson told Insider, "The Committee's letter merely highlighted what was written in audited financial statements that the Trump Organization provided to the federal government and certified as 'correct, accurate and complete.'" "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 letter stated.Ĭollectively, the documents show "that far from being a successful investment, the Trump Hotel was a failing business saddled by debt that required bailouts from President Trump's other businesses," the letter went on to say.ĭaniel Hunter, a spokesperson for Deutsche Bank, in a statement to Insider said, "The Committee's letter makes several inaccurate statements regarding Deutsche Bank and its loan agreement." The House Oversight Committee said the GSA failed to comply with its investigation into the hotel during the Trump era, but "finally" produced a "subset of requested documents" in July.Ĭommittee chairwoman Carolyn Maloney and subcommittee on government operations chairman Gerald Connolly sent a letter to the GSA requesting additional information. The Trump hotel in the nation's capital is located in the federally owned Old Post Office Pavilion, and the GSA manages the lease. Account icon An icon in the shape of a person's head and shoulders.
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