President-Elect Donald Trump’s vast business holdings will be placed into a Blind Trust with his oldest three children in charge, according to his Attorney.
The President and Vice-President is exempt from the Blind Trust law.
Michael Cohen, an Attorney for Trump and the Trump Organization, also said Thursday morning he is “100 percent” on board if Trump asks him to move to Washington to work for the new administration.
“I certainly hope so,” Cohen said of the prospects he’ll get a job offer.
Asked who would run the Trump Organization, a privately held company with over 500 International and U.S. dealings in everything from hotels to real estate, golf courses to investments, Cohen explained that Trump’s adult children Donald Jr., Ivanka, and Eric would take charge through a Blind Trust.
“They’re really intelligent. They’re really qualified. That’s why he really didn’t run in 2012, because they were younger by four years,” Cohen said. “And they didn’t have, I guess, the experience, maturity that he felt he wanted to leave a $10 billion company to. Now he does. He’s very comfortable with them at the helm and the people that will surround them.”
Trump during his Campaign faced questions about how he’d handle his business dealings and potential conflicts if he were to become President, saying repeatedly he’d separate himself from the company. And while his lawyer Thursday used the term “Blind Trust” when discussing the family’s upcoming financial arrangement, putting Trump’s children in charge of a set of assets that their father is aware of does not constitute a Blind Trust.
Under the legal definition of a Blind Trust, a Public official places his finances under the management of an Independent Party. The official would have no knowledge of what is in the trust or how it is managed. Cohen conceded Trump would have a difficult time satisfying critics who continue to raise doubts about their plans.
“Will we be able to appease everybody? The answer is no. No matter what the man does. He can’t appease everybody,” Cohen said. “But everything will be done legally. He’s not interested in the company anymore. He said it yesterday in front of a whole group of people. He’s interested in fixing America. He wants to make America great again. He wants to put Americans back to work. He wants to fix the economy. He wants to create jobs. And he wants to ensure national security for everyone.”
NYC Wins When Everyone Can Vote! Michael H. Drucker
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