The campaign transferred money to indebted private companies, Forbes

  • Former President Donald Trump transferred money collected from campaign donors to the Trump Organization.
  • The organization is heavily in debt, with approximately $ 400 million.
  • Campaign donor money was moved before and after Trump’s election defeat, reported Forbes.
  • Visit Insider’s Business section for more stories.

Former President Donald Trump transferred money collected from campaign donors to the Trump organization, according to Federal Election Commission (FEC) documents viewed by Forbes.

He has invested around $ 2.8 million in his private businesses throughout his presidency, reported Dan Alexander of Forbes.

Trump injected an additional $ 81,000 into the Trump Organization after his election defeat, the magazine said.

The payments were made public in documents the campaign submitted to the FEC and were listed to cover costs, including rent, plane tickets, accommodation and other expenses.

One of the campaign’s joint fundraising committees, associated with the Republican Party, also transferred about $ 4.3 million in donor money to his private company during his presidential term, according to Forbes.

Read more: 10 huge successes for Trump’s pandemic business that can be permanent.

The joint fundraising committee also donated around $ 300,000 to Trump’s hotel chain in the week following the election defeat of the former president, the Independent reported.

About $ 40,000 was donated from the campaign to Trump Tower Commercial LLC, a company in which the former president has a stake, in December, the newspaper said.

This is not the first time that Trump has been reported to be transferring campaign money to his private companies.

In July, the Washington Post’s David Fahrenthold reported that the Trump campaign had sent nearly $ 400,000 to the Trump Organization in just two days.

Documents showed the campaign funneled $ 380,000 into the president’s personal affairs in 43 transactions, Fahrenthold said.

It comes when the former president is said to be looking for ways to monetize his post-presidency to deal with potentially huge debt.

Trump Organization owes $ 400 million, says Forbes.

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