U.S. ethics chief blasts Trump plan to keep business profits

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President-elect Donald Trump speaks during a press conference at Trump Tower. Photo by Shannon Stapleton/Reuters

President-elect Donald Trump speaks during a press conference at Trump Tower. Photo by Shannon Stapleton/Reuters

WASHINGTON — The director of the federal government’s ethics agency is blasting president-elect Donald Trump’s plan to maintain his business empire by turning it over to his sons instead of selling off all his corporate assets and placing remaining profits in a government-approved blind trust.

U.S. Office of Government Ethics Director Walter Shaub said Tuesday that Trump’s solution to a potential cascade of ethics conflicts spurred by his global business holdings breaks 40 years of precedent by presidents from both parties.

Shaub, a 2013 Obama appointee, openly pleaded with Trump to reconsider his plan before his inauguration. Shaub said Trump should agree to “divestiture,” a process under which he would sell his corporate assets and place the profit in a blind trust administered by a neutral trustee approved by the OGE

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