Wednesday, December 14, 2016

Obama - Threatens Trump In Violation Of Lease On D.C. Hotel Unless He Divests All Ownership

Zero Hedge ^ | 12-14-2016 | Tyler Durden 

President-elect Trump has until inauguration day to divest himself of all ownership interest (not just management) of the Trump International Hotel in Washington D.C. or he will be in violation of his lease, according to the agency in charge of government buildings. The lease, according to a letter from four Democrats, forbids elected officials from being party to the deal or receiving any of its benefits, making the hotel the most visible potential conflicts of interest for Trump.

As Bloomberg reports, an official of the General Services Administration, which leases government buildings, told the staffs of the four lawmakers that Trump will be in violation of the lease unless he divests, according to a letter written by the Democrats.
"Mr. Trump will be in breach of the lease agreement the moment he takes office on January 20, 2017, unless he fully divests himself of all financial interests in the lease for the Washington D.C. hotel," according to the letter from Representatives Elijah Cummings, Peter DeFazio, Gerald Connolly, and André Carson, who had requested details of the deal.
The 60-year lease for the Old Post Office Pavilion, a U.S. government-owned building on Pennsylvania Avenue just blocks from the White House, forbids elected officials from being party to the deal or receiving any of its benefits. It has become one of the most visible potential conflicts of interest for Trump, whose international real estate and branding business presents unprecedented circumstances in which a president may remain involved in the private sector.
On Dec. 8, the deputy commissioner of GSA, from which Trump Old Post Office LLC leases the historic Old Post Office Pavilion, told the lawmakers’ representatives "that Mr. Trump must divest himself not only of managerial control, but of all ownership interest as well
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(Excerpt) Read more at zerohedge.com ...

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