During Trump’s First Campaign and His Four years in the White House, His Foreign Business Dealings drew constant Scrutiny for potential Conflicts-of-Interest. But He still added 50% of His current Assests.
Now, as His comeback Presidential Bid, the microscope is again on His Overseas Empire, as those Holdings are growing. Trump will likely again come under Pressure to Distance Himself from His Business Ventures, partly by promising that the Trump Organization won’t get involved in any New Overseas Deals.
But, the Trump Organization, has revived its Global Expansion efforts. The Company is building another Golf Course in Scotland, and has Branding deals with Residential Projects in India and Resort Developments in Indonesia.
In late 2022, the Trump Organization agreed to Manage and Brand a $1.6 billion Golf and Resort Project in Oman, teaming up with Dar Al Arkan, a Saudi Real-Estate firm. Trump Reported more than $5 million in Income from that Partnership in His 2022 Financial-Disclosure Form. He also has Golf Courses, Hotels, Resorts, Condominiums, and other Ventures in more than 10 Countries on Four Continents.
Critics fear, His Business Expansion World-Wide wil happen again in a Second Term. “To have the president of the U.S. influenced by foreign money is extremely dangerous,” said Richard Painter, who was Chief White House Ethics Lawyer under George W. Bush.
Trump has long Denied any Wrongdoing. He and other Family Members have pointed out that the Trump Organization was involved in Global Real-Estate Projects and other Overseas Businesses long before He entered Politics. Will He put All Assists in a Blind Trust this time?
Trump’s Business Career already promises to be an Issue in 2024 for other Reasons. The Trump Organization was Convicted, in late 2022, of Criminal Tax Fraud in a Case brought by the Manhattan District Attorney.
He is currently facing a Civil Fraud Trial brought by New York Attorney General Letitia James (D), who has Charged Him with a lengthy Scheme to Inflate the Value of His Assets for Financial Gain. The Fine could be $270 million, and Loss of His Business Licenses to be in the Real Estate Business in NY, and lossing part of His Assists.
Today, Trump still owns a Majority Stake in the scores of different Business entities under the Trump Organization umbrella. But Day-to-Day Operations are the responsibility of His Sons Eric and Donald Trump Jr.
Trump’s Critics say He didn’t go far enough. “If they were really serious about [avoiding conflicts of interest], they would have sold the whole Trump empire,” Painter said. Painter also said that Trump’s Foreign Deals since Leaving the White House, raise the question of whether His Actions as President were Influenced by Expectations of Future Business. “Are these payoffs for decisions made in the White House,” He asked. “I call it the deferred compensation plan.”
Kathleen Clark, a Law Professor at Washington University in St. Louis, pointed out that Governments of Countries such as: India, Indonesia, and Oman, would be able to use their Power over ongoing Trump Projects, to influence U.S. Government Policy in a Second Trump Administration. Simply deciding to put an End to New Projects to deal with Conflict-of-Interest concerns would be “utterly inadequate,” She said.
Democrats and some Ethics Experts also accused Trump of receiving Unconstitutional Financial Benefits from the Presidency through the Trump Organization’s Ownership of Businesses, such as the Trump International Hotel in the Old Post Office Building in Washington, D.C. During the Presidency, numerous Foreign Officials, Lobbyists, and Others stayed at the Hotel and spent Money at other Trump Businesses.
Internal Financial Records obtained by House Democrats, showed that Countries spent Lavishly at Trump’s Properties, shelling out at least $7.8 million during His time in Office. The Documents stemmed from years of Litigation into whether Trump ran Afoul of the Emoluments Clause, which Prevents Officeholders from accepting anything of Value from Foreign States without the Permission of Congress.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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