Trump acknowledges inquiry, lifts lid on finances
US President Donald Trump acknowledged for the first time yesterday that he is under federal investigation as part of the expanding probe into Russia’s election meddling. He also lashed out at a top Justice Department official overseeing the inquiry.
‘‘I am being investigated for firing the FBI Director by the man who told me to fire the FBI Director! Witch Hunt,’’ the president wrote on Twitter.
His missive apparently referred to Rod Rosenstein, the deputy attorney general whose role leading the federal investigation has become increasingly complicated. The White House has used a memo he wrote to justify Trump’s decision to fire FBI Director James Comey, but that Trump action may now be part of the probe.
On Friday, Rosenstein issued an unusual statement complaining about leaks in the case.
Trump advisers and confidants have described the president as increasingly angry over the investigation, yelling at television sets in the White House carrying coverage and insisting he is the target of a conspiracy to discredit – and potentially end – his presidency. Some of his ire is aimed at Rosenstein and investigative special counsel Robert Mueller, both of whom the president believes are biased against him, associates say.
Meanwhile, Trump’s Washington hotel saw almost US$20 million in revenue during its first few months of operation – a period that coincided with his election and inauguration. His Mar-a-Lago resort in Florida, which he has visited seven times as president, pulled in millions of dollars more than it had previously.
The new details are included in a financial disclosure that Trump voluntarily submitted yesterday to the Office of Government Ethics, the first snapshot of the Trump Organisation’s finances after its longtime leader became president.
When he took office in January, Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive. But he did not divest, instead placing his enormous portfolio of financial assets in a trust controlled by the executive and Donald Trump Jr. He can take back control of the trust at any time, and is free to withdraw cash from it as he pleases.
His latest financial disclosure covers January 2016 through the northern spring.
The documents have added importance because Trump isn’t following the long tradition of presidential candidates and office holders of making public his tax returns, which provide more complete financial information than the financial disclosures.
The report shows Trump resigned from more than 500 positions, leaving many the day before his inauguration.
He listed at least US$315m in liabilities, about the same as in a report he filed last year. The president still owes more than US$100m to Deutsche Bank and a similar amount to Ladder Capital Finance, a New York-based real estate investment trust.
What is unclear from the disclosure is whether Trump added to his debt in any significant way to help pay for his presidential campaign.
Some of Trump’s businesses appear to be earning more than they had a year earlier. Trump listed Mar-a-Lago’s income as about US$37m, up from about $30m it had taken in prior to his May 2016 financial report.
The Trump International Hotel, down the street from the White House, has seen a burst of activity since opening its doors last year. In addition to serving as a hub during the inauguration festivities, it has hosted numerous events for foreign diplomatic and business interests.
The hotel is cited in three separate lawsuits arguing that Trump is violating the US Constitution’s ‘‘emoluments’’ clause, a ban on foreign gifts and payments. Trump and the Justice Department have called those claims baseless.