The company advised by Trump sons said he hoped to take advantage of the Fed’s money and then brought it back

New York (AP) -a public document filed by a company that we have just hired the two oldest sons of President Donald Trump, as the councilors included a sentence early in Monday, which says he hopes to take advantage of grants and other incentives from the federal government that their father is going.

But when the Associated Press asked Trump’s family business about the obvious conflict of interest, the document was revised and the line was removed.

Eric Trump and Donald Trump, Jr., receive “founder’s shares” worth millions of dollars in New American Acquigation 1 Corp., a company without an operating business that hopes to fill this hole through the purchase of an American company that can play a “meaningful role in the internal production”. The President focused his trade policy on raising US production

The original version of the securities submitting that the target company must be “well positioned” to use incentives for a federal or state government. This reference was removed from the processed version.

Trump’s organization did not answer the question of whether New America still plans to take advantage of government programs or why the line is shortened. But the external law firm Paul Hastings, who helped prepare the document, sent an email to the AP, saying it was a “mistake” made by Scrvenseners, an old legal document transcript.

Kathleen Clark, an expert in government ethics, said any excuses were too late because Trump had already tilted their hand.

“They just deleted the language. They did not commit to not do what they said today that they were planning to do,” said the professor of the University of Washington and Trump’s critic. “This is an attempt to operate a public office for private profit.”

New America is what is known as a special goal company or SPAC. It is a publicly traded company that exists solely for the use of its funds to acquire another company and borrow the target public.

New America plans to raise money by selling new shares on the New York Stock Exchange at $ 10 per share. This will hand over the two Trump sons a potential amount of $ 50 million paper wealth as the action begins to trade on the first day. The company hopes to sell enough shares to raise $ 300 million, which it then plans to use the purchase of a still unidentified manufacturer.

A press release issued by New America, saying it is focused on “American values and priorities.” This did not mention the purpose of obtaining state incentives.

The submission of potential new investors to Nova America to the Securities and Exchange Commission was explicitly for what it was looking for in a target company. It says, among other things, she wants a company that can ride on “queues of public policy” by taking advantage of federal or state “grants, tax loans, government contracts or preferential public procurement programs.”