Trump Busted Stealing Millions in Scheme NO ONE Knew
Reuters just busted President Trump for funneling millions in taxpayer dollars into his wallet. Trump is once again breaking the law with a huge conflict of interest.
It turns out that pension funds from seven states are investing millions in an investment fund that invests in the Trump SoHo hotel in New York. This hotel, in turn, is paying one of Trump’s companies to manage the hotel.
As a result, Trump’s management company received $3.1 million over four months. Trump’s taking money from the states while he holds the highest office in the land.
And Trump directly benefits from these payments, since he hasn’t divested his businesses by placing them in a blind trust. Instead, Trump has placed his companies in a trust that’s run by his sons—and he can withdraw that money at any time.
Experts say that Trump is in violation of the emoluments clause of the Constitution. This clause prohibits presidents from receiving money from the states.
But that’s exactly what this payment chain does. Jed Shugerman, a professor of law at Fordham University, elaborated, “If you take a step back and look at this transaction, it’s a payment chain from state pension funds to President Trump.”
The Reuter’s article lays out the payment chain very clearly. Firstly, state pension funds pay out millions of dollars per quarter to CIM fund in New York.
That fund invests in the real estate fund 246 Spring Street LLC. This real estate fund then pays out millions in management and marketing fees to Trump International Hotels Managment LLC.
Trump is the owner of that management company, so he directly benefits from these payments. But right now the Donald J. Trump Revocable Trust controls the management LLC instead of Trump.
Trump’s own sons, however, are running the trust. Trump controls his sons, so who’s really calling the shots?
The real estate fund also pays operating and overhead charges for unsold units in the Trump SoHo hotel, which Trump owns. That’s more money to line Trump’s pockets.
POLL: Is Trump stealing from Americans?
Trump has the states paying his companies through an investment chain.
But the Constitution prohibits presidents from accepting payments from the states.
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This whole scenario is a huge conflict of interest. And it’s one that Trump could have avoided if he had just put all his companies in a blind trust.
But Trump wants to use his office to enrich himself. Trump only cares about himself, and the only reason he ran for President was to help his companies make more money.
Trump has committed so many impeachable offenses that it’s hard to keep track of them all. This is just latest in a string of conflicts of interest that Trump is exploiting.
We’ve never had a president with so many large businesses making money for them before. According to Brianne Gorod, chief counsel at the Constitutional Accountability Center, “We’re in largely uncharted territory on that front given that past presidents have gone to great lengths to avoid the kinds of issues we’re now confronting.”
Past presidents were smart enough to take steps to avoid impeachment. But Trump doesn’t care if he breaks the law since he never seems to pay the price.
Congress should put an end to Trump’s shenanigans and impeach him already. Please help spread the word about Trump’s conflicts of interest by sharing this story on Facebook.