Trump Unveils 'Conflicts Of Interest' Solution: No Divestment, Hands Business Over To Sons And "Ethics Officer"

www.zerohedge.com | 1/11/2017 | Staff
cyanbyte (Posted by) Level 3











Earlier today, in what turned out to be at times a very contentious press conference, Trump and his attorney laid out the details behind plans to place his business interests into a trust to be run by his two adult sons during his presidency. Even though he opened by noting that, by law, he could very well ignore the criticism of the media and "run my business and run government at the same time" he concluded by noting that he just doesn't "like the way that looks." Per Bloomberg:

“I could actually run my business and run government at the same time,” Trump said at a press conference Wednesday, adding that he recently turned down an offer of $2 billion to do a deal in Dubai. “I don’t like the way that looks, but I would be able to do that if I wanted to.”

Weekend - Deal - Dubai - Man - Developer

"Over the weekend, I was offered $2 billion to do a deal in Dubai with a very, very amazing man, a great developer from the Middle East,” Trump said Wednesday, referring to the company Damac Properties Dubai Co PJSC. “I turned it down.”

Niall McLoughlin, a spokesman for Damac, confirmed Trump’s account. “Damac confirms that discussions took place but, as stated, they were declined,” he said by phone from Dubai. “These were proposals for different property deals.”

Trump - Attorney - Sheri - Dillon - Morgan

As laid out by Trump's attorney, Sheri Dillon of Morgan Lewis, his roughly 500 business entities will be placed into a trust to be run by Eric, Don Jr. and Trump's current CFO Allen Weisselberg who will make decision regarding day-to-day operations without consulting the President. Moreover, the trusts strictly forbid entering into new international business arrangements while new domestic arrangements will have to be approved by an "independent ethics officer" who has yet to be named.

Trump’s businesses, which include more than...
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