Former President Donald Trump claimed his DC hotel was making tens of millions. But new documents show it lost more than $70 million over a four-year period.
The documents also show the hotel received millions from foreign governments in payments and loan deferral, which Trump did not disclose, raising questions about potential conflicts of interest during his presidency.It's the first time that congressional investigators have reviewed and released details of the former president's financial information, though the Trump Organization on Friday challenged the committee's understanding of accounting and denied any wrongdoing.
In a statement, a spokesperson for the Trump Organization called the findings by the committee"intentionally misleading, irresponsible and unequivocally false," arguing that the committee"has a fundamental misunderstanding of basic accounting principles -- including the difference between gross revenue and net profit," and said profits were donated back to the US Treasury.
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