President Trump, days after his election, held a press conference announcing that his business holdings would be transferred into a trust to avoid a conflict of interest. This was done in an attempt to alleviate any notions that his presidency would be used for personal financial gain. His promise seems to be short lived after a NY Times report has presented evidence that Trump has distanced himself from his day-to-day responsibilities, but is unofficially in charge of Trump Organization.
Aside from receiving constant notifications of any profit gains or losses from his vast enterprises, Trump has deceptively assigned his eldest son Donald Jr. and Allen H. Weisselberg, CFO of the Trump Empire, to be the trustees of his empire. Moreover, they can be removed from having any authority at The Donald's discretion.
By transferring the beneficiary of the company from himself to a trust, Trump has found a way to still access his company. "Formally he is no longer the owner but financially, he is." According to the times, Trump is exempt from laws that prohibit federal employees from participating in government matters that will directly affect their own financial interests.
All in all, Trump's move is seen by most financial experts as a game of smoke and mirrors; misleading information to embellish the truth.
Should Trump sever all ties with his company? Should he be allowed to benefit from it during his presidency? Let us know in the comments!
