Trump’s conflicts of interest take White House into uncharted territory With his children, and not a blind trust, running his company, little prevents the president-elect’s political and business careers from bleeding into each other
Excerpt. The entire article is well worth reading, but here are some highlights:
When President-elect Donald Trump enters the White House next year he will bring with him potential conflicts of interest across all areas of government that are unprecedented in American history.
Trump, who manages a sprawling, international network of businesses, has thus far refused to put his businesses into a blind trust the way his predecessors in the nation’s highest office have traditionally done. Instead he has said his businesses will be run by his own adult children.
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Donald Jr, Eric and Ivanka Trump are all on the president-elect’s transition team executive committee, per ABC’s Candace Smith, as is Trump’s son-in-law Jared Kushner.
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From his financial filings, the future US leader also appears to be a shareholder or beneficiary of several entities headquartered abroad, among them Excel Venture LLC in the French West Indies, and Caribusiness Investments SRL, based in the Dominican Republic. How Trump’s holdings in those countries will affect US relations with them remains to be seen; both are notable for their use in finance to avoid taxes. Trump has promised to cut the rate for repatriating cash into the US as an incentive for others who, like him, keep taxable funds overseas.
In Azerbaijan, Trump has a real estate project he said was “on hold” during the presidential campaign. His partner in the endeavor was Anar Mammadov, son of the Iranian transportation minister, Ziya Mammadov, who was accused in diplomatic cables released by WikiLeaks in 2010 of laundering money.
In Russia, where Trump’s election has been met with congratulations by President Vladimir Putin, Trump worked closely with the Russian-born American financier Felix H Sater, managing director of the New York-based firm Bayrock LLC. Sater and Bayrock founder Tevfik Arif worked closely with Trump and others in his organization. In a deposition, Trump said that he had discussed “numerous deals all over the world” with Arif, and that Arif had brought potential Russian investors to meet Trump at his office, according to a report in the New York Times.