Miami-based CGI purchased the lease rights from the Trumps for $375 million
As Donald Trump’s real-estate empire comes under pressure from a $355 million civil-fraud verdict, one of its most recent sales looks particularly well timed.
The Trump International Hotel in Washington, D.C., was a favorite Republican meeting spot during the Trump presidency, attracting lobbyists, lawmakers and others with business before the administration. After the Trumps faced criticism that they were flouting government-ethics laws by profiting from the property, they put up for sale the long-term lease rights for the hotel in the former Old Post Office.
In 2022, the Trumps sold those rights to Miami-based investor CGI Merchant Group for $375 million—a price that was tens of millions of dollars more than the other offers, according to people familiar with the matter. CGI rebranded the hotel as a Waldorf Astoria.
This month, the new owner defaulted on a $285 million loan related to the property, according to people familiar with the matter. The missed payments on that loan reflect higher interest rates and the above-market price the firm paid the Trumps, industry executives say.
I get that if you’re a respectable newspaper you can’t just put a footnote: (*) because it was money laundering
But it’s weird that say the whole thing with a straight face while standing so specifically placed so they’re blocking the writing on the wall that says “MONEY LAUNDERING”
I thought about investing the effort to construct a Drake meme, captioned with “overpaying for real estate” “campaign contributions” “consulting fee” “fuck it here’s a briefcase full of cash” with all of them set to the “accepting” Drake. But I lost my motivation before I accomplished it.
You should go back and make the effort, don’t let your dreams stay dreams
That’s weird. And here I thought that stating the facts without a narrative was good reporting.
I cane to the conclusion of “oh, so probably a bribe, then” from the facts. Until someone actually accuses them of crimes, it’s best for the news to just highlight suspicious circumstances.
That Trump stink hangs around awhile.
It’s the adult diapers. I worked at a nursing home so I know exactly what Trump smells like
They did have to have a week of cleaning and disinfecting done when Trump left the White House.
And while we want to believe it’s because of Covid, we all know it’s because Dirty Donnie and his Diapers.
https://www.newsweek.com/white-house-disinfected-after-trump-exit-1553725
Trump live Debt counter:
“Corruption machine stops generating money when it’s no longer a corruption machine.”
The trump crime family?
Fred Trump made his money as a NY slum lord, which isn’t technically illegal even if it’s scummy as hell. What was illegal though was all the tax fraud and embezzlement he committed along the way. Dude practically wrote the book on tax fraud and exploiting tax loopholes. Taught every dirty trick he knew to his kids. His daughter was a crooked judge who stepped down rather than being disbarred for, wait for it, fraudulent tax and financial transactions. Donald on the other hand was the dumber of the two, he learned all the lessons on grifting and financial crime, but never really picked up his dads business savvy that let him actually make money. Donald has just been chewing through everything Fred left him on one failed business venture after another. If the Russian mafia hadn’t bailed him out in the 90s he would have been completely broke by this point.
