Trump Organization sends $151,470 in foreign profits to Treasury

- Maret 09, 2018

The Trump Organization has transferred $151,470 in profits earned from foreign governments to the U.S. Treasury, a company executive said on Friday.

George Sorial, the Trump Organization’s executive vice president and chief compliance counsel, said the donation made good on the company’s promise to give away profits from foreign governments during President Donald Trump’s term.

“Although not a legal requirement, this voluntary donation fulfills our pledge to donate profits from foreign government patronage at our hotels and similar business during President Trump’s term in office,” Sorial said in a written statement.

He called the transfer an “annual” donation to taxpayers. The money represents profits from foreign governments patronizing Trump Organization hotels and businesses between Jan. 20, 2017, and Dec. 31, 2017, Sorial wrote.

The Trump International Hotel in Washington, just a few blocks from the White House, has been a frequent host to foreign guests. Lobbying records show the hotel took in about $270,000 in payments tied to the Kingdom of Saudi Arabia between 2016 and 2017. In February 2017, the Kuwaiti ambassador to the U.S. booked the hotel for a gala to celebrate his country’s independence from British rule.

Congressional Democrats and watchdog groups have sued Trump, claiming violations of the Constitution’s Emoluments Clause, which was designed to prevent corruption by foreign influence. Lawyers for the plaintiffs in Blumenthal v. Trump, a case brought by 196 House and Senate members, did not immediately respond to requests for comment.

Trump handed over control of his company’s day-to-day operations to his sons Donald Jr. and Eric before taking office last year.


 

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