fbpx

Type to search

Trump Promised To Resign From His Companies — But There’s No Record He’s Done So

Business Featured Post Money Politics US White House

Trump Promised To Resign From His Companies — But There’s No Record He’s Done So

Share
Trump, Blind Trust, Ethics

Reprinted with permission from ProPublica.

At a news conference last week, now-President Donald Trump said he and his daughter, Ivanka, had signed paperwork relinquishing control of all Trump-branded companies. Next to him were stacks of papers in manila envelopes — documents he said transferred “complete and total control” of his businesses to his two sons and another longtime employee.

Sheri Dillon, the Trump attorney who presented the plan, said that Trump “has relinquished leadership and management of the Trump Organization.” Everything would be placed in a family trust by Jan. 20, she said.

That hasn’t happened.

To transfer ownership of his biggest companies, Trump has to file a long list of documents in Florida, Delaware and New York. We asked officials in each of those states whether they have received the paperwork. As of 3:15 p.m. today, the officials said they have not.

Trump and his associates “are not doing what they said they would do,” said Richard Painter, the chief ethics lawyer for President George W. Bush. “And even that was completely inadequate.”

ProPublica’s questions to the transition team were referred to an outside public relations firm, Hiltzik Strategies, which declined to comment. The president’s team did not allow reporters to view documents, which they said were legal records separating Trump from his eponymous business empire. Dillon’s law firm, Morgan Lewis, has not released the records and they declined further comment, saying it doesn’t comment on client issues.

ProPublica looked at more than a dozen of Trump’s largest companies, which are registered or incorporated in three states. Officials in New York and Delaware said documents are logged as soon as they are received. In Florida, officials told us there is typically a day or two before documents are logged into the system.

Here is what we found:

  • Business filings for Trump Organization LLC, Trump’s primary holding company, had not been changed, according to New York’s Department of State. Wollman Rink Operations LLC, which runs the Wollman Rink in Central Park through an agreement with New York City, hasn’t been updated either. Trump is listed as the sole authorized representative of the company.
  • Ivanka Trump is still listed as the authorized officer on records for two entities related to the Old Post Office in Washington, D.C., which the Trump family bought and turned into a hotel. No changes have been filed for either of the companies, which are registered in Delaware.
  • Documents on The Donald J. Trump Foundation, which Trump has said he would dissolve, haven’t been updated. The charitable foundation has been in a swirl of controversy over its collection and disbursement of funds and an active investigation by New York’s attorney general. (The foundation cannot legally dissolve until the investigation is complete, but the New York Attorney General’s office told ProPublica that Trump can resign as an officer at any time.)
  • In Delaware, where the majority of Trump’s businesses are registered, state officials told ProPublica that no amendments have been filed for four businesses tied to the Old Post Office and that the most recent filings for two businesses related to the Trump National Golf Club in Washington, D.C., were made more than a year ago.
  • In Florida, no changes have been made for years to three key Trump businesses operating there: the Trump International Golf Club in Palm Beach, the Mar-A-Lago Club, and DJT Holdings, which has controlling interest in most of Trump’s golf courses in the U.S. and abroad, according to the state’s Division of Corporations.

Even if Trump hands over his companies to a new trust, the plan fails to solve many of his bigger business conflicts, experts say. Terms of the trust that would insulate the president from the Trump Organization haven’t been made public. Trump’s decision not to divest his assets has also been heavily criticized by several former White House attorneys and ethics chiefs.

“What are the terms of the trust? Who is going to be the ethics monitor and what standards will he or she abide by?” said Norman Eisen, who served as the White House chief ethics lawyer under President Obama. “There are 1,000 unanswered questions.”

IMAGE: U.S. President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in Manhattan, New York City, U.S., January 11, 2017. REUTERS/Lucas Jackson

Tags:

44 Comments

  1. Aaron_of_Portsmouth January 23, 2017

    By now, it should be abundantly clear that Donald not only has perfected the art of talking out of both sides of his mouth and through his orifice at the terminus of his digestive tract, but that he has no intention to walk away from his vast holdings. So integrated are Trump’s addiction for material gain with his essence as a corrupt individual that to sever himself, even to a limited degree, will cause a major disruption to his psyche, resulting in a fatality.
    Therefore, it would be unwarranted to think that he means what he says on this matter.

    Reply
  2. Aaron_of_Portsmouth January 23, 2017

    By now, it should be abundantly clear that Donald not only has perfected the art of talking out of both sides of his mouth and through his orifice at the terminus of his digestive tract, but that he has no intention to walk away from his vast holdings. So integrated are Trump’s addiction for material gain with his essence as a corrupt individual that to sever himself, even to a limited degree, will cause a major disruption to his psyche, resulting in a fatality.
    Therefore, it would be unwarranted to think that he means what he says on this matter.

    Reply
    1. Eleanore Whitaker January 24, 2017

      In the corporate world, that kind of double talk is perfectly condoned by the Executive Board members. Too bad this is government now, not a corporation. Too bad his executive board is paid by us and not the profits earned by employees.

      Reply
  3. Dominick Vila January 23, 2017

    The poop will hit the fan when a Trump hotel, in a city such as Istanbul, is hit by a terrorist, and Trump decides to send American troops to retaliate. Will the families of fallen soldiers – defending Trump’s properties – be thanked by the Messiah for their sacrifice, or are our sons and daughters an expendable commodity at the service of our 21st Tzar and Tzarina? Saying that everything is fine because his sons are now in charge of his business empire is not a defense against the legitimate concern of a major conflict of interest.
    As a minimum, Trump should make his tax returns public, to either end all the controversy over him being in debt to foreign Russian oligarchs, or prove that there is no conflict of interest insofar as personal debt is concerned. Unfortunately, making his income tax returns public would be the tip of the iceberg, and does not end the controversy over ownership, management of his business empire, emolument, potential for pay for play allegations, and the controversy that would emerge if he retaliates against foreign forces when and if they attack one of his properties.

    Reply
    1. dbtheonly January 24, 2017

      Dom,

      Don’t hold your breath on the tax returns. I imaging you’re spot on with Trump Properties now being major terrorist targets. What better way to get attention?

      Heard something on the radio last night to the effect that Trump resigned from some 400 boards and positions, several days ago.

      Which really begs the question, if he’s going to do that, why not make a splash out of it & diffuse the issue? If he’ll tweet at 3:00 about Miss Universe’s weight; why not about his divestiture? It’s not important? He doesn’t want to be seen “giving in”?

      Not wanting to be seen “giving in” carries with it its own ramifications, none of them good.

      Reply
      1. TZToronto January 24, 2017

        Trump would lose a lot of money if he were to sell off his assets. Knowing that Trump must do so in order to avoid conflicts of interest, buyers would low-ball him. If Trump wants to remain President and not be impeached and convicted for his numerous ethics violations, who in his right mind would pay Trump more than his assets are worth? He’d have to divest himself to the tune of pennies on the dollar. Can’t blame him for not wanting to do so, but then he shouldn’t be the POTUS. Resign completely from his businesses (i.e., SELL THEM), or resign from the Presidency.

        Reply
        1. Eleanore Whitaker January 24, 2017

          The fact is his only real asset is his name. He sells his name in 32 countries of the world. Most of the businesses his name is attached to are not owned by him directly. There again is how he lies to pump his ego.

          Hitler may have gotten away with egotistical perversion of facts and truth, but this is not going to be as easy to do here in the US. Once burned, twice shy as the saying goes.

          Reply
          1. idamag January 24, 2017

            I have seen a lot of similarities between Germany in the 30s and The U.S.A. in the present. And if nothing trump did could turn away his followers, Congress is not going to stand up to trump as long as he helps them do away with regulations, ACA, and the safety nets.

            Reply
        2. dbtheonly January 24, 2017

          Sell when the buyers know you have to sell? That’s a financial bloodbath waiting to happen.

          Then there are his children. Do they too have to divest themselves?

          Resign? Hah!

          Reply
          1. TZToronto January 24, 2017

            The simple fact is that Trump will resign from neither his companies nor the Presidency. I’m wondering what Trump will have to do before the House decides he’s gone too far. Judging by the ease with which most Republicans in Congress have gone along to get along, perhaps only pledging his allegiance to Vladimir Putin will begin to raise eyebrows among his followers and Congressional protectors.

            Reply
    2. Eleanore Whitaker January 24, 2017

      Dom, the Money Mad Messiah stuck his foot in his mouth when he said and we all heard, “We should have taken Iraq’s Oil.” You can only guess what the other OPEC countries and the terrorists living in them are doing about now. Plotting the next US attack.

      Trump can’t show his tax returns. That’s why he NEVER will. Where the hell is Snowden when we need him to hack into Trump’s tax records?

      Trump is nothing if he is not PERVERSE in the most disgusting way. Perverse mentalities often defy, ruthlessly act and brazenly blow their horns in other people’s ears for no real reason other than to prove they can do what NO ONE else can: flout laws of common decency, society and civil and human rights.

      The more the Trump Organization brags about how easy it was for him to win this election, the dirtier and more suspicious that election looks.

      When he tweets that the “only reason” Hillary won the popular vote by 3 million was because 5 million illegals voted fraudulently. Not that he can EVER prove one word of what he says. Perverse men like him don’t feel they owe any facts to anyone. Just heed their every word or ELSE!

      You’ll notice he has not yet Tweeted in on the over 500,000 million plus protesters. That’s because he can’t really deny the signs in their hands plastered all over the media. When he finds a way to corrupt those protests, he will. If not? Well then get ready. Perverse men don’t take criticism and they will get revenge…any way they can.

      Reply
  4. apzzyk January 24, 2017

    Trumps contact with reality seems to be at least ‘iffy’. He seems to be lost in his own little world most of the time, and makes decisions by denying the consequences.

    Reply
    1. Eleanore Whitaker January 24, 2017

      No. What the Money Messiah wants is for you to OBEY even when he tells you that one and one equals five. Then, you have to teach your kids that one and one equals five and they teach their kids the same until no one knows anything the Money Messiah has not demanded is “truth.”

      Reply
      1. dbtheonly January 24, 2017

        And love Big Brother.

        Reply
        1. Eleanore Whitaker January 24, 2017

          That’s why he is after controlling the media. Now that he realizes he can’t, he got “even” by refusing to honor any contracts with foreign countries that allow abortions. This from the man who demanded Marla Maples get an abortion for his daughter Tiffany.

          Reply
          1. idamag January 24, 2017

            Being against abortion gets someone like him all the “Christian” right wing votes. That microscopic bit a plasma has champions when little children who get cancer do not. When little children who go hungry do not. When little children who live in sub standard housing do not. When little children running for their lives, from drug cartels do not.

            Reply
          2. Dan S January 24, 2017

            I as a Christian cannot believe how deluded the so called Evangelical community has become. Seriously he’s no more a Christian than say Bill Maher is

            Reply
          3. Eleanore Whitaker January 25, 2017

            Trump in the 30 years of his NY City presence has never once been inside any church. You can make bet on that. So…where has he EVER worshipped as a Christian?

            There are reasons why he is on his anti woman war. He had to pay alimony to 2 of his wives. He wanted Marla Maples to get an abortion because he claimed Tiffany was not his child. This, after bedding her for 18 months while still married to Ivana.

            None of his wives have ever been in any church. His marriages were never performed in this country in a church because you can count on it that if they did take place in the US, the US media would have been all over it with photos of the grand events.

            Reply
          4. Eleanore Whitaker January 25, 2017

            If these Republican men do not stop telling women what to do, women of all ages will rip them out of their offices and beat hell out of them. Women pay equal taxes to men. Women earn 80 cents to the $1 men earn. Do the math. For every 80 cents that taxed, women lose more of their incomes than men.

            Women are fed up with men with big mouths. His idea that he can push an anti-abortion campaign on foreign countries is a joke. Israeli women will not fall for it and neither will other women around the world.

            The problem with these big mouth men is what it has always been…They believe men know women better than women know themselves. How isn’t that pathetic brainwashing when they try to force their male authority on women who are financially independent, more educated and have no intentions of tolerating that kind of bullying? That’s why women are bound to become more miltiant and far more combatant when their own gender is controlled by men.

            Reply
          5. dbtheonly January 24, 2017

            You’re asking for consistency? From Trump?

            Reply
          6. Dan S January 24, 2017

            Whoa ???? I missed that story but it doesn’t surprise me. He’s by far the worlds biggest liar ???? and hypocrite ????

            Reply
  5. yabbed January 24, 2017

    Donald Trump lies. He lies about everything. He lies about his wealth, he lies about Russia, he lies about his wife’s education. He lies and claims his inauguration was the largest in modern history when it was, in fact, the smallest in modern history and we have the photos to prove it. He lies and says he won the largest margin in presidential elections when in fact he won by the smallest electoral margin and lost by the largest popular vote. The FatBoy lies every time he opens his tiny little mouth.

    Reply
    1. Dan S January 24, 2017

      I’d like nothing more than someone to light his orange hair on fire ????

      Reply
      1. yabbed January 24, 2017

        With all that hairspray and weaves, it would be a bonfire!

        Reply
  6. charley williams January 24, 2017

    What’s the Prob, it’s just Alternative Business practices !

    Reply
  7. idamag January 24, 2017

    Trump has never had to play by the rules. He has dragged this country down to new level of dishonesty. If the supreme court ruled he had to divest himself of his companies, he would fire them and probably get by with it. He is not honest.

    Reply
  8. Jim Samaras January 24, 2017

    I’m not generally enthralled by other peoples angst but I do get a kick out of the unfounded hatred you libtards have for a president who will go down in history as one of the greatest ever. There’s room for another on Mt Rushmore, it’s just too bad none of us will live long enough to see it erected.

    Reply
    1. chino49p January 24, 2017

      You are right. drump is the greatest liar EVER in the WH, bigly so. drump is the greatest moronic influence upon our society we have ever seen, bigly so. drump is the greatest cancer upon civility we had had to endure, bigly so. drump is the greatest unethical bigot, bigly so. drump is the greatest BAD role model for children, bigly so. drump is the greatest national embarrassment our country has had to endure in recent history, bigly so. And thats just the start of how drump is the greatest of the WORST presidents and will occupy the prime position on the monument of SHAME, not Rushmore!

      Reply
      1. Dan S January 24, 2017

        With his thin skin maybe if enough of America openly mocks him we can laugh him out the door. He is an imposter sitting in the Oval Office degrading the Presidency which should be revered not sullied by the likes of him. I say show us your tax returns now or leave. Given that option I’m sure he’d slink away

        Reply
        1. chino49p January 24, 2017

          Its not an option for him. The drump presidency is and will always be the most CORRUPT administration and will forever damage the reputation of the USA.

          Reply
        2. LydiLouiKats January 24, 2017

          Exactly my hope! Drive him crazy with having to realize that he is not as well liked as he thinks he is! https://www.bloomberg.com/graphics/tracking-trumps-web-of-conflicts/

          Reply
        3. Jim Samaras January 24, 2017

          It took Obama 3 years to show a birth certificate but now Trump has to show his tax returns on demand? You libtards are a joke

          Reply
          1. Aaron_of_Portsmouth January 24, 2017

            Still repeating the blithering nonsense about the Birth Certificate. Are you so infantile that you can’t get beyond that farce planted by Trump?

            Reply
          2. Jim Samaras January 24, 2017

            No…..I’m not repeating anything. Just asking why did he not present it on demand when questioned like you’re now demanding of Trump is all I’m asking. A legitimate question if you’re being fair

            Reply
          3. LydiLouiKats January 24, 2017

            People have been asking Trump for almost two years now! But who the hell is keeping track?! Things don’t stay under *AUDIT* forever!

            Reply
        4. LydiLouiKats January 24, 2017

          This is part of the reason why he doesn’t want you or anybody to see his tax returns! His divestitures probably partial ones at that (certainly not enough of them) and interests are splattered all over the world! https://www.bloomberg.com/graphics/tracking-trumps-web-of-conflicts/

          Reply
      2. LydiLouiKats January 24, 2017

        He has got to be stopped or we are all doomed! https://www.bloomberg.com/graphics/tracking-trumps-web-of-conflicts/

        Reply
      1. Jim Samaras January 24, 2017

        LOL….are you really under the impression that anyone who voted for him cares one bit about those business interests? He’s already sacrificing much in order to do what he and millions of Americans agree with so quit your crying and jump on the train

        Reply
        1. Aaron_of_Portsmouth January 24, 2017

          Jim, that partisan strain of rabies is getting the better of you. “Libtards” is such a childish word to use. I’d like to see your BC, because I doubt if you’re an adult, and as such you really should get your parents’ permission to have conversations with grown-ups.

          Reply
          1. Jim Samaras January 24, 2017

            Oh, like Agent Orange or Trumpf? Are you referring to silly things like that when addressing President Trump?

            Reply
          2. Aaron_of_Portsmouth January 26, 2017

            Jim, do you have any hobbies, or books to read? Your sad whining in this forum is pathetic and it just keeps you depressed and frustrated that no one sees things as you do. Go interact with your friends, get outdoors, enjoy life and stop being Trump’s slave and personal defender. The man is too depraved for anyone like yourself to show such puppy-like devotion to. If you need to have a relationship with someone, get away from this forum and meet new people. Otherwise, you’re just shortening your lifespan, pining on behalf of a sordid and lewd man like Trump.

            Reply
  9. LydiLouiKats January 24, 2017

    Here’s an even “BIGGER LIST” don’t know when the hell the “REAL GOVERNMENT” is going to wake up! It’s totally disgusting what the “REPUBLICANS” that want to be in power so desperately that they are willing to put their own country at risk! Bring it on Russia and others it’s coming! https://www.bloomberg.com/graphics/tracking-trumps-web-of-conflicts/

    Reply
  10. jointerjohn January 24, 2017

    A “Trump Promise”, now there is something with the reliability of a wooden wrist watch! A couple of weeks ago I suspected that the republicans in Congress would tolerate him only as long as they could, then impeach him so they could deal with that spineless little suck-up Pence, but now I fear a different outcome. They will ultimately park him in the corner with his I-phone and Twitter account, like the emotional and intellectual eleven year old that he is, and operate a shadow White House around him. Like a number of boy kings in European history, they will amuse him and let him think he is ruling while staff puppeteers take over the real operations that he finds boring, or are simply over his head. This likelihood is more dangerous than the first alternative, but I doubt they will simply stand around and let him sink the midterm elections for them.

    Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.