Trump tweaked his trust so he can draw money from his businesses at any time without disclosing it
President Trump has boasted about the lengths he has gone to in order to distance himself from his business empire upon entering the White House, but ProPublica writes that a previously unreported tweak to a trust document means the president is far closer with his organization than was previously believed. The updated language allows for Trump to "draw money from his more than 400 businesses, at any time, without disclosing it," ProPublica reports.
"It's incredibly broad language," remarked family estate and trust attorney Frederick J. Tansill. The clause was added via a document signed Feb. 10, which states that the trust "shall distribute net income or principal to Donald J. Trump at his request," including everything from profits to an actual business itself.
ProPublica adds:
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Trump Organization spokeswoman Amanda Miller said in a statement: "President Trump believed it was important to create multiple layers of approval for major actions and key business decisions." Read more about the amendment to Trump's trust at ProPublica and read Jeff Spross' analysis of the massive conflicts of interest in Trump's business empire at The Week.
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Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
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