Democrats Accuse Trump Of New Scandal
Over the course of Donald Trump’s presidency, China reportedly invested over $5.5 million in properties associated with him, as disclosed in documents unveiled by House Democrats on Thursday. The revelations were part of a comprehensive report titled “White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump,” compiled by the House Oversight Committee Democrats. The document delves into a broader spectrum of expenditures, totaling at least $7.8 million, emanating from 20 different countries during the period spanning 2017 to 2021. Notable contributors include Qatar, Saudi Arabia, Lebanon, and Afghanistan.
The report, spearheaded by Oversight Ranking Member Jamie Raskin, D-Md., sheds light on the $7.8 million expenditure, which accounts for four properties—two hotels in New York City, Trump International Hotel in Washington, D.C., and Trump International Hotel in Las Vegas. It’s crucial to note that these properties constitute less than 1% of the extensive portfolio of 588 corporate entities directly or indirectly owned by Trump during his tenure as president.
Information for the report was sourced from Trump’s former accounting firm, Mazars USA. However, Democrats expressed dissatisfaction, asserting that Mazars failed to furnish documentation for around 80% of Trump’s entities. The report points fingers at Oversight Chair James Comer, R-Ky., for obstructing the production of additional records, which impeded access to documents pertaining to countries like Russia and South Korea.
The report contends that the disclosed $7.8 million is likely just a fraction of the foreign payments that Trump received during his presidency, potentially violating the Constitution’s Foreign Emoluments Clause. Democrats argue that the incomplete records underscore the need for continued investigation.
The $5.5 million invested by China reportedly originated from diverse sources, including China’s embassy in the U.S., a state-owned Chinese air transit company, and a significant sum exceeding $5.3 million from the Industrial and Commercial Bank of China (ICBC). Democrats highlight this financial connection, drawing attention to Trump’s purported reluctance to impose sanctions on Chinese banks, such as ICBC, despite evidence suggesting their involvement in facilitating transactions benefiting the North Korean regime.
In response to the report, James Comer dismissed it as part of the Democrats’ ongoing fixation with Trump, contrasting the former president’s legitimate business ventures with what he deemed as the Bidens’ lack thereof. Comer is concurrently leading an impeachment inquiry into President Biden, focusing on allegations and documented instances of purportedly benefiting from his son Hunter Biden’s influence-peddling activities, particularly with China.