Ukraine, Egypt explore preferential trade deal: Zelenskyy    Egypt, Russia's Rosatom review grid readiness for El-Dabaa nuclear plant    Mastercard Unveils AI-Powered Card Fraud Prevention Service in EEMEA Region, Starting from Egypt    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    China's factory output expands in June '25    Egyptian pound climbs against dollar at Wednesday's close    New accords on trade, security strengthen Egypt-Oman Relations    Egypt launches public-private partnership to curb c-sections, improve maternal, child health    Gaza under Israeli siege as death toll mounts, famine looms    EMRA, Elsewedy sign partnership to explore, develop phosphate reserves in Sebaiya    Philip Morris Misr announces new price list effective 1 July    Egypt Post discusses enhanced cooperation with Ivorian counterpart    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt in diplomatic push for Gaza truce, Iran-Israel de-escalation    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt, Tunisia discuss boosting healthcare cooperation        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Trump says he's closing foundation, but Democrats want more
Published in Ahram Online on 25 - 12 - 2016

President-elect Donald Trump says he will dissolve his charitable foundation before taking office to avoid conflicts of interest. The Democratic Party says that's not enough and is calling for the billionaire businessman to put his assets in a blind trust.
The New York attorney general's office has been investigating the foundation following media reports that foundation spending went to benefit Trump's campaign. A spokeswoman says the foundation cannot close until the investigation is complete.
Trump said in a statement Saturday that he has directed his counsel to take the necessary steps to implement the dissolution of the Donald J. Trump Foundation, saying that it operated "at essentially no cost for decades, with 100 percent of the money going to charity."
"The foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children," he said in a statement.
"I will be devoting so much time and energy to the presidency and solving the many problems facing our country and the world. I don't want to allow good work to be associated with a possible conflict of interest," he said.
Trump said he will pursue philanthropic efforts in other ways, but he didn't elaborated on how he'd do so.
The Democratic National Committee criticized Trump for what it called "a wilted fig leaf to cover up his remaining conflicts of interest and his pitiful record of charitable giving."
The statement from party spokesman Eric Walker also took a jab at the president-elect over his controversial business holdings: "Shuttering a charity is no substitute for divesting from his for-profit business and putting the assets in a blind trust — the only way to guarantee separation between the Trump administration and the Trump business."
A 2015 tax return posted on the nonprofit monitoring website GuideStar shows the Donald J. Trump Foundation acknowledged that it used money or assets in violation of IRS regulations — not only during 2015, but in prior years.
Those regulations prohibit self-dealing by the charity. That's broadly defined as using its money or assets to benefit Trump, his family, his companies or substantial contributors to the foundation.
The tax filing doesn't provide details on the violations. Whether Trump benefited from the foundation's spending has been the subject of an investigation by New York Attorney General Eric Schneiderman.
In September, Schneiderman disclosed that his office has been investigating Trump's charity to determine whether it has abided by state laws governing nonprofits.
Documents obtained by The Associated Press in September showed Schneiderman's scrutiny of The Donald J. Trump Foundation dated back to at least June, when his office formally questioned the donation made by the charity to a group supporting Florida Attorney General Pam Bondi.
Bondi personally solicited the money during a 2013 phone call that came after her office received complaints from former students claiming they were scammed by Trump University, Trump's get-rich-quick real estate seminars.
The Trump Foundation check arrived just days after Bondi's office told a newspaper it was reviewing a lawsuit against Trump University filed by Schneiderman. Bondi's office never sued Trump, though she denies his donation played any role in that decision.
Trump later paid a $2,500 fine over the check from his foundation because it violated federal law barring charities from making political contributions.
Amy Spitalnick, press secretary for Schneiderman's office, said Saturday that the foundation "cannot legally dissolve" until the investigation is complete.
The charitable foundation was ordered to immediately stop fundraising in New York just weeks before the general election, Schneiderman's office saying it wasn't registered to do so. The N.Y. attorney general's office said in October the Trump Foundation had a registration for an organization with assets in New York, but the law requires a different registration for those that solicit more than $25,000 a year from the public. It complied with the order and stopped its fundraising activities.Trump was highly critical of Democratic rival Hillary Clinton's family charity, the Clinton Foundation, saying without evidence that she ran "a vast criminal enterprise run out of the State Department" while she was secretary of state. At the final presidential debate, he challenged Clinton to "give back the money" that came from donors in countries that fail to respect various human rights.
More than half the people outside the government who met with Clinton while she was secretary of state gave money — either personally or through companies or groups — to the Clinton Foundation. The proportion indicated possible ethics challenges had she been elected president.
Trump's announcement to dissolve his own foundation came a day after the president-elect took to Twitter to declare it a "ridiculous shame" that his son Eric will have to stop soliciting funds for his charitable foundation, the Eric Trump Foundation, because of a conflict of interest.
"My wonderful son, Eric, will no longer be allowed to raise money for children with cancer because of a possible conflict of interest with my presidency," Trump tweeted. "He loves these kids, has raised millions of dollars for them, and now must stop. Wrong answer!"
Trump was spending the Christmas weekend at his South Florida estate, Mar-a-Lago, his retreat for most holidays. He and his wife, Melania, attended services Saturday night at an Episcopal church in Palm Beach.


Clic here to read the story from its source.