Congressional Investigators Demand Transparency from Trump-Backed Financial Firm
Democrat Lawmakers Press SEC for Records on Trump Family-Backed World Liberty Financial
A group of Democratic lawmakers has sent a letter to the Securities and Exchange Commission (SEC) demanding records related to World Liberty Financial, a company backed by the Trump family.
The lawmakers, who include Representatives Ted Deutch (D-FL), Mike Levin (D-CA), and Andy Levin (D-MI), are seeking information about the company's financial dealings and potential conflicts of interest involving President Donald Trump's family members.
World Liberty Financial is a private equity firm that has received significant investment from the Trump family, including a $10 million loan from the Trump Organization. The company's financial records have been shrouded in secrecy, leading the lawmakers to express concern about potential conflicts of interest and potential violations of federal securities laws.
In their letter to the SEC, the lawmakers wrote, "As you are aware, President Trump and his family have significant financial interests in World Liberty Financial, and any potential violations of federal securities laws could have serious consequences for the integrity of our financial markets."
The lawmakers are requesting that the SEC provide them with any records related to World Liberty Financial, including financial statements, audit reports, and any correspondence with the company's management.
The letter comes as the Trump family continues to face scrutiny over their financial dealings, including a recent report by The New York Times that revealed President Trump had a secret bank account in China. The report sparked concerns about potential conflicts of interest and potential violations of federal laws.
The lawmakers' request for records related to World Liberty Financial is the latest effort by Democrats to shed light on the Trump family's financial dealings. Earlier this year, the House Oversight and Reform Committee launched an investigation into President Trump's financial records, including his tax returns and business dealings.
The SEC has not yet responded to the lawmakers' request for records, but the agency has said it is reviewing the matter. In a statement, the SEC said, "We take all requests for information seriously and are reviewing the matter."
The Trump family has faced numerous controversies over their financial dealings, including allegations of tax evasion and money laundering. The latest controversy surrounding World Liberty Financial has sparked concerns about potential conflicts of interest and potential violations of federal securities laws.