Donald Trump bid on and purchased the rights to the old Post Office Building in Washington, DC to turn it into a high priced luxury hotel. But Trump didn’t actually buy it, and he doesn’t actually own it. The building is owned by the General Accounting Office of the US government as US property. What Trump actually bought was a 100 year lease on the property from the US government.
Trump made his schlock peace and immediately began soaking the sheeple. But then he got elected President, he turned the hotel into an illegal emoluments spigot for foreign donations that would go directly to his pocket. The Democrats and CREW sued in court to stop it, but the suits were thrown out of court.
Trump, braggart that he is, claimed that the hotel made $150 million, although forensic audits showed that it actually lost $70 million. Trump was bleeding money. One if his first post presidency acts was to try to dump the property.
Trump is currently in negotiations to sell the lease to a Miami based real estate consortium for $370 million, more than double what he paid for the lease in the first place. Quite a nice pea-on-the-shell game, right? Not so fast, Trump’s business legal problems are finally catching up to him.
The Trump organization is currently under federal indictment in New York for tax fraud.
And according to the terms of his lease with the GAO, a federal indictment is cause for the GAO to strip Trump of the lease, and sell it itself. Apparently this is already known in the administration, and there are ongoing discussions about whether or not this would look like the administration taking retribution against Trump.
Personally I hope that the Biden administration says fuck it and sells the lease through the GAO. Trump used his personal property to bypass the emoluments clause of the constitution, and line his personal pockets with money. But when you consider what Trump paid for the lease in the first place, if the GAO cuts him off at the knees, and sells the lease themselves, it is highly likely that Trump will once again walk away a LOSER from yet another mammoth real estate deal.
Follow me on Twitter at @RealMurfster35
Maybe it would defer some of the cost for the taxpayer funded security for this bunch of criminal traitors.
as much as his dumpness was milking people at this property, he still could not make money. That is literally the most pathetic thing I have heard today. I thought he was using his over the top hotel costs to pay off other debts. The average room is like 1000 a night. turns out trump can’t even make money from his grift. this ahole is even more pathetic than anyone thought. Unless there is some Baku type underground payments then trump is the one leader of a country who is totally corrupt and cannot figure out how to steal billions. We’ve seen the Pandora papers.
We all know trump cronies and family scammed millions if not billions. jared turned his take into millions, manchin, ross, they invested at every temper tantrum, even dumpsters golf pals at mar a dump figured out how to make money from the VA.
but maybe he can make up his loses with hat sales.
The GSA may not hold former guy to the terms of the lease and relieve him of it because of the indictment because the optics might be bad? Sorry man but WTF?!? If the idiot is violating the terms of the lease you enforce the terms of the lease and take the property away from his idiot a*s. Does anyone over there realize that if anyone says “boo” to a goose about it all they have to respond with is something to the effect of: “do you think Mr. Trump would do it any differently?” I’m relatively sure there are numerous examples to prove this point.
The former guy has demonstrated that he can’t manage *anything*. Sell all his stuff, or give him a conservator who isn’t related in any way to him or his kids, and doesn’t give a f**k about anything except proper management of all that stuff the former guy claims to have.
And yeah, take the lease and sell it. He should have had it taken away when it became clear that he didn’t have a blind trust (or any other kind) to hold anything while he was in the WH, and that people were using it to pass
bribesdonations to him.