Trump's trust lets him take money at any time

Clause allows Trump to withdraw money from businesses: report

Clause allows Trump to withdraw money from businesses: report

Mr Trump said he would turn over operational control of the Trump Organisation to his two eldest sons, abstain from new deals with foreign partners, refrain from discussing company matters and appoint an independent ethics adviser. There is a specific clause in the letters between the Trump Organization and the government that makes it abundantly clear this decision is no mere oversight.

Trump can draw cash from his more than 400 organizations, whenever, without uncovering it.

The clause specifically states that the trustees "shall distribute net income or principal to Donald J. Trump at his request". That can incorporate everything from benefits to the fundamental resources, for example, the organizations themselves.

The news site said there is nothing requiring Mr Trump to disclose when he takes profits from the trust, which could go directly into his bank or brokerage account.

That's because of a clause, first reported Monday by ProPublica, in a summary of the trust set up to hold Trump's business assets while he serves as president.

The only individuals other than Trump who will know about the distributions will be the Trustees, Donald Trump Jr.

It said the Trump Organisation did not answer detailed questions about the trust.

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He also dismissed the Pulitzer Prize-winning ProPublica as a "left-wing blog".

A spokesperson for the Trump Organization said in a statement to ProPublica that the president believes "multiple layers" were needed for transactions. "It's just an entity on paper, nothing more". "He is still entitled to the income and the profits of the trust if he wants them", said Beth Shapiro Kaufman, the president of law firm Caplin & Drysdale, who reviewed the trust document. A clause, small enough to be conveniently overlooked, was found hidden amongst the language of a trust document between the Trump Organization and the USA government, signed on February 10.

It is unclear why Trump would need the money.

Another controversy surrounding Mr. Trump's purported conflicts involves the Trump International Hotel, which is located in the Old Post Office building near the White House.

Obviously, the income from his businesses would benefit Trump, affording him the luxury he is accustomed to.

Sheri Dillon, a lawyer for Trump, told reporters in January that Trump wanted there to be "no doubt" that the president was "completely isolating himself from his business interests".

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