China spent more than $5.5 million on properties owned by Donald Trump during his four years as president, according to documents released Thursday by House Democrats.
House Oversight Committee Democrats detailed the payments as the lion's share of at least $7.8 million spent by 20 different countries in all from 2017-21. Other countries include Qatar, Saudi Arabia, Lebanon, and Afghanistan.
Further, the 156-page report released by Democrats said the $7.8 million represents four properties, less than 1% of the 588 corporate entities directly or indirectly owned by Trump while president.
The report, led by Oversight Ranking Member Jamie Raskin, D-Md., is titled, "White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump."
The four Trump properties accounted for include two of his hotels in New York City, Trump International Hotel in Washington, D.C., and Trump International Hotel in Las Vegas.
House Democrats obtained the information from Trump's former accounting firm, Mazars USA, which, they say, did not produce documentation from at least 80% of Trump's entities. Committee Democrats blamed current Oversight Chair James Comer, R-Ky., for the halt in production of additional records from Mazars, which prevented them from obtaining documents relating to Russia and South Korea, among other countries.
"As a result, the $7.8 million detailed in this report, based on records for just two years of his presidency, involving four of his more than 500 businesses, is likely just a small fraction of the payments former President Trump received from foreign governments while in office, in violation of the Constitution's Foreign Emoluments Clause," the panel Democrats wrote.
Comer is leading in impeachment inquiry into President Biden over allegations and documentation showing he benefitted from his son Hunter Biden's influence-peddling schemes with China, among others.
"It's beyond parody that Democrats continue their obsession with former President Trump," Comer said in a statement. "Former President Trump has legitimate businesses, but the Bidens do not."
The millions spent by China came from China's embassy in the U.S., a state-owned China air transit company, and more than $5.3 million alone from the Industrial and Commercial Bank of China (ICBC).
"During this time, President Trump refused to impose sanctions on Chinese banks, including ICBC, despite evidence they facilitated financial transactions to benefit the North Korean regime," Democrats wrote in the release.
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
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