Trump Records Show Previously Unknown Bank Account in China

Ashley Boucher
·2 min read

CNBC Donald Trump

Donald Trump has a bank account in China, a new report has found.

Nearly a month after the New York Times published its first of several articles analyzing Trump's tax information, the outlet is reporting that China is one of three countries besides the United States where Trump has a bank account.

According to the Times, Trump's accounts in China, Ireland and the U.K. are held under corporate names, and thus do not appear on his public financial disclosures.

The bank account in China is reportedly under Trump International Hotels Management L.L.C., which paid $188,561 in taxes to the Chinese government from 2013 to 2015, tax records obtained by the Times show. The company is involved in several Trump properties worldwide, according to the Times, and owns THC China Development.

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The accounts in the U.K. and Ireland are reportedly held by companies that operate Trump's golf courses there.

The Times reports that it was not clear exactly how much money has gone through Trump's accounts in China, Ireland and the U.K.

Trump Organization lawyer Alan Garten told the Times that the account, along with an office, had been opened in China "to explore the potential for hotel deals in Asia."

Tim Murtaugh, the communications director for Trump's reelection campaign, tells PEOPLE in a statement, "President Trump has zero ties to China. The Fake News New York Times is covering for Joe Biden — 'the Big Guy' — who got 10 percent of a lucrative Chinese equity deal Hunter negotiated. Then, the Biden Center failed to disclose a $70 million gift from China. Joe Biden is a corrupt politician, and the New York Times knows it."

The Biden campaign did not immediately respond to PEOPLE's request for comment regarding Murtaugh's statement.

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"No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive. Though the bank account remains open, it has never been used for any other purpose," Garten said.

In September, the Times reported that Trump paid a total of $750 in federal income taxes in both 2016 and 2017 thanks to a nearly $10 million tax credit partially connected to a hotel project in Washington, D.C.

Trump has avoided publicly releasing both before and during his time in office, defending his refusal to release the records by citing an ongoing IRS audit.

The Trump Organization did not immediately respond to PEOPLE's request for comment. The White House did not have a comment when reached by PEOPLE.