Trump Reportedly Funneled Money for Kids-Cancer Research into his Business
On Tuesday, Forbes released an article claiming Eric Trump’s Foundation funneled money into the Trump Organization from a charity event for children’s cancer research with St. Jude’s.
The Eric Trump Foundation hosted an annual golf event for eight years, up until 2015, at the Trump National Gulf Club in New York. According to Forbes report, the Trump Organization billed Eric’s foundation and several other charities for the use of the space, totaling nearly $1.2 million.
According to Forbes, the Donald J. Trump Foundation used the Eric Trump Foundation to funnel thousands of dollars in donations into revenue for the Trump Organization. The report also claims that much of the donations said to be helping terminally ill children, over $500,000 was re-donated to other charities, most of which were connected to the family.
Although Eric has since refuted the claims, saying the use of the course was free as well as the merchandise and supplies used, sources directly involved told the publication otherwise. Specifically, Donald Trump “commanded that the for-profit Trump Organization start billing hundreds of thousands of dollars to the nonprofit Eric Trump Foundation” in 2011.
According to CNN, the costs for the golf event from 2007 to 2010 remained at about $50,000 per year. However, the following year it increased to $142,000. Though the costs went back down in 2012, it rose again the following year to $230,000. The cost increased by $12,000 in 2014 and by $80,000 in 2015.
In turn, a spokesperson for Trump’s second eldest son refuted the claims, saying “contrary to recent reports, at no time did the Trump Organization profit in any way from the foundation or any of its activities.”
“While people can disagree on political issues, to infer malicious intent on a charity that has changed so many lives, is not only shameful but is truly disgusting,” the statement continued. “At the end of the day, the only people who lose are the children of St. Jude and other incredibly worthy causes.”
Eric also took the time to address the matter on Twitter, while blasting a user for calling the family out for stealing from children with cancer.
“I have raised $16.3 million dollars for terminally ill children at @StJude with less than a 12.3% expense ratio. What have you done today,” he said on Tuesday.
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Source: Baller Alert