Donald Trump announced on Saturday that he will close his foundation. In a statement, Trump said he was closing the Trump Foundation “to avoid even the appearance of any conflict.”
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The shuttering of the Trump Foundation comes with growing calls for Donald Trump to divest himself from his murky network of businesses that pose an unprecedented level of conflicts of interest.
The decision appears to be aimed at resolving some of the most glaring potential conflicts of interest that his business and philanthropic empire poses. However, according to The New York Times, he has still not gone anywhere close to the level of divestment that ethics experts are recommending.
Trump Foundation still under investigation
The Trump Foundation is being investigated by the New York Attorney General to determine whether the foundation spent charitable donations to benefit Donald Trump’s campaign. A spokeswoman for New York Attorney General Schneiderman, said Saturday on Twitter that the foundation “cannot legally dissolve” until the investigation concludes.
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Additionally, an investigation by The Washington Post revealed that the Trump Foundation had engaged in self-dealing, something Trump and his foundation later admitted.
Donald Trump and his transition team continue to downplay the obvious ethical issues and conflicts of interest that his businesses and charity holdings present. Trump has repeatedly said that he plans to hand over control to his adult sons – Eric Trump and Donald Trump Jr.
However, handing over day-to-day control of business operations doesn’t really do anything to resolve the conflicts of interest. And there is the obvious issue that Trump has put his name on most of his businesses so the notion of setting up a blind trust doesn’t really apply – nothing about the business would be blind to Trump, particularly if his children are running it. Additionally, there would be nothing to stop foreign governments trying to curry favor with the new American president from spending money with his businesses.
And as we’ve already seen the Trump Organization trying to leverage the presidency to make money. Recent reports that Trump Organization pressured Kuwait move an event to the Trump’s new Washington D.C. hotel.
