New York Attorney General Letitia James’s lawsuit over former President Donald Trump allegedly tampered with financial details in his and Ivanka Trump’s personal quest to open a luxury hotel in Washington, D.C., in the years before his run for the presidency. accused of using
The statements were “critical to the overall success of the investment” in the Old Post Office property in Washington, D.C., which became the Trump International Hotel, James’ lawsuit says.
James alleges that Ivanka Trump and her father provided the General Services Administration with their financial capacity — including sending financial statements to the agency that included misrepresentation — in order to secure a lease for the hotel.
James says the father-daughter duo also made a personal presentation to the agency, which eventually awarded them a lease of the federal government-owned building beginning in 2013.
While Trump was in office, the hotel, which is less than a mile from the White House, became a gathering place for his supporters and close contacts, and the relationship to the current president increased bookings.
James also alleged that the Trump Organization obtained a $170 million loan from Deutsche Bank, according to James, to develop the hotel inside the historic Old Post Office building, partly based on false pretense.
“At the request of Ivanka Trump, a banker kept a close eye on the bank’s consideration of the request,” James’ team wrote. As part of the financing, “Mr. Trump, as guarantor, will be required to provide the bank with an annual statement of its financial position,” the lawsuit says.
Trump personally guaranteed the loan. James’ lawsuit states that he had to confirm the accuracy of his finances to the bank.
Some more context: House Democrats have sought for years to find out the details of Trump’s finances, a top aim of which is to understand the Trump hotel books. They were largely unsuccessful.
The Trump Organization sold the hotel in May 2022, helping the company pay off debt and turn a profit. The DC Hotel property now operates as the Waldorf Astoria.