House Oversight Committee chair asks the federal government to consider terminating Trump's DC hotel's lease after his accountants dumped him

• The chair of the House Oversight Committee is asking the government to considering terminating Trump's DC hotel lease.
• Their letter comes after the Trump Organization's main accounting firm dumped the company this month.

Top Democrats on the House Oversight Committee asked the General Services Administration to consider terminating former President Donald Trump's lease for his Washington, DC hotel after his financial accountants dumped him earlier this week.

In a letter addressed to Administrator of General Services Robin Carnahan, Rep. Carolyn Maloney of New York and Rep. Gerry Connolly of Virginia said recent revelations about Trump's finances raise "serious ethical and legal concerns" about the lease.

On Monday, new court documents filed by New York Attorney General Tish James revealed that Mazars USA, Trump's longtime accounting firm, concluded that 10 years worth of Trump's statements of financial worth "should no longer be relied upon."

"In light of these new revelations, including further evidence that the former President submitted at least one financial statement with possible material misrepresentations to GSA, we request that you consider terminating the Old Post Office Building lease to former President Trump and the Trump Organization," the duo wrote, adding that terminating the contract would "end, once-and-for-all, the grave damage this inappropriate lease has done to presidential ethics and integrity in government contracting."

James' office is currently investigating whether there was rampant fraud inside the Trump Organization and is seeking the deposition of several members of the Trump family, including the former president himself.

Investigators in her office recently found that Trump's statements of financial condition repeatedly "misstated objective facts" including the size of his Trump Tower penthouse; overstated his liquidity; deviated from general accounting principles to reach property valuations; "failed to use fundamental techniques of valuation"; and did not disclose that some of those valuations were artificially inflated to help Trump's brand.

Mazars said that in light of the findings as well as "the totality of the circumstances," it will no longer be able to "provide any new work product to the Trump Organization."

The oversight commitee previously revealed in October that Trump's hotel had lost over $70 million dollars during his presidency, raising questions about financial disclosures that Trump filed during those years.

Trump is now looking to sell the property for $375 million to an investment group that reportedly includes former New York Yankees baseball player Alex Rodriguez.

"If approved by GSA, the sale would yield a profit of approximately $100 million to the Trump Organization, of which approximately $76 million would flow to former President Trump," the 2 Democrats noted in their letter.

The hotel, which is housed in the federally-owned Old Post Office Building on Pennsylvania Avenue, became a frequent spot for Republican politicians and Trump fans alike to congregate during his presidency. But the hotel also raised significant ethical concerns, given Trump's continued financial stake in the hotel and the possibility that private actors and foreign governments alike might seek to curry favor with Trump by patronizing the hotel.

One expert recently said the hotel was an "epicenter" of corruption during the Trump years.

The General Services Administration and representatives for former President Trump did not immediately respond to requests for comment.