WASHINGTON - Led by Free Speech For People, the Divest Trump SoHo campaign claimed a big victory last week when CIM Group LP confirmed that they will buy out the Trump Organization and terminate its agreement with Trump International Hotels Management to market and manage the troubled condo/hotel years before the contract expires.

Over the past four months, thousands of Californians and New Yorkers from all walks of life have joined the Divest Trump SoHo campaign to hold CalPERS and the New York State Comptroller accountable for an investment that was funneling millions in retiree funds to the Trump Organization in violation of the Domestic Emoluments Clause of the U.S. Constitution.

Through petitions, letters, and public comments, thousands urged CalPERS’ Board of Directors and the New York State Comptroller to protect beneficiaries from this corruption.

SCROLL TO CONTINUE WITH CONTENT Never Miss a Beat. Get our best delivered to your inbox.







On October 30, 2017, Rep. Ted Lieu (D-CA) and 11 of his fellow members of the California congressional delegation wrote a letter urging CalPERS to take immediate action to remedy serious legal and ethical issues regarding indirect payments to the Trump Organization by pressuring the fund manager to liquidate the Trump SoHo, terminate the arrangement with the Trump Organization to market and manage the Trump SoHo, or divest from the fund altogether.

The letter was signed by Rep. Lieu, Rep. Waters, Rep. Cardenas, Rep. Gomez, Rep. DeSaulnier, Rep. Khanna, Rep. Lee, Rep. Bass, Rep. Huffman, Rep. Swalwell, and Rep. Lofgren.

“This is a tremendous outcome that will end the illegal payments from state pension funds to the President,” says Shanna Cleveland, Senior Counsel at Free Speech For People. “It shows the power of people to end corruption by shining a light on it."

###