The President-elect, Donald Trump, announced his intention to hand over his entire business enterprise to his son, prior to his inauguration, which is set to take place on January, 20. However, all did not go as smoothly as Trump would have liked, due to the director of the US office of Government ethics criticizing Trump for doing this.
According to the director, who goes by the name of Walter Shaub, this move, does not match what would be presumed as the ‘standards’ for presidents of America, who have served over the last 40-years.
More details on why Trump was criticized following his decision to hand over his empire
Although this is happening, there is no way to stop the move, according to Trump lawyers, the president-elect decided upon this action, as it ensures that no conflict of interest will arise. Furthermore, a lawyer, who serves Trump did inform the press that the new trust, which is being set up have high restriction policies in place for new deals.
However, despite these statements, to back up Trump’s move, according to Shaub, this move will not eliminate the current conflict of interest.
Shaub further stated, “Every president in modern times has taken the strong medicine of divestiture.”
When Shaub made this statement, he was referring to a common tradition, when Presidents are officially inaugurated. This tradition namely involves selling off all assets under current possessions and putting all the profits gained into a blind trust, which will be run by an independent trustee.
Trump’s move to secure his assets and ‘remove’ conflict of interest
However, somewhat expected, Trump will not be selling off his assets. Rather, it has been confirmed at a conference on Wednesday, by the main lawyer, Sheri Dillon, who explained that the management of the Trump organization, would be given the control of Trump’s sons, Don Trump, and Eric Trump.