Donald Trump has previously faced criticism for diverting funds from Political Action Committees (PACs) to cover his legal expenses, and a recent report suggests that some of these funds have been allocated to his daughter Ivanka Trump as well.
What Happened: The “Save America” PAC, controlled by Trump, reportedly spent $2.3 million on legal fees for two law firms representing Ivanka in 2023, according to a Business Insider report analyzing Federal Election Commission records.
Additionally, an additional $5.3 million was allocated to Robert & Robert, which represented three of the former president’s adult children and the Trump Organization.
Save America was established in 2020 following Trump’s defeat in the presidential election, with approximately 60% of donations raised by Trump’s campaign redirected to this PAC. It has since served as Trump’s primary fundraising and political expenditure vehicle.
A significant portion of the PAC’s expenses, as highlighted by BI, has been attributed to Trump’s legal bills. Last year, Trump was ordered to pay $5 million in damages in a civil sexual assault case brought by author E. Jean Carroll. In a separate defamation lawsuit, a jury imposed an $83.3 million penalty for defaming the author.
Why It’s Important: The revelation drew criticism from a campaign finance watchdog executive, Robert Maguire, the research director for Citizens for Responsibility and Ethics in Washington.
Maguire pointed out that despite being initially marketed as an “Official Election Defense Fund,” the PAC has primarily been used to cover legal expenses for Trump, his family, and associates, while also funneling millions to a pro-Trump super PAC.
The report also noted that Ivanka had been represented by the Washington DC-based firm Kellogg Hansen since September 2022. Lawyers from the firm argued for her distinct treatment in a New York civil case, emphasizing her disassociation from the Trump Organization since 2017.
With the PAC having provided Trump with over $50 million to cover his legal fees in 2023, it now reportedly holds only $5.1 million, significantly less than the $100 million it previously held, according to campaign disclosures cited by ABC News.
Read Next: How To Invest In Startups
Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.