Report: Mnuchin Made $15M Selling Off Assets to Avoid Conflicts of Interest

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Updated Aug. 08, 2017 7:42AM EDT / Published Aug. 07, 2017 11:27PM EDT

Kevin Lamarque

U.S. Treasury Secretary Steven Mnuchin, one of the wealthiest members of President Trump’s Cabinet, reportedly earned at least $15 million selling his entertainment and real-estate interests to comply with federal conflict-of-interest rules. A filing released by the Treasury Department on Monday shows that Mnuchin, a former Goldman Sachs executive, could have made as much as $53 million on the sales in May, though the prices were shown only in broad ranges, Bloomberg News reported. The sales followed Mnuchin’s signing of an ethics agreement in January in which he vowed to divest dozens of assets within 90 days of his confirmation. The buyers’ identities were not disclosed. Among the interests sold were in Dune Real Estate Partners LLC, which holds commercial and residential properties in New York City; Dune Entertainment Partners LLC, an entertainment company; and stakes in RatPac-Dune, a company that has co-financed Hollywood blockbusters like Avatar and Batman v Superman: Dawn of Justice.

Read it at Bloomberg News

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Report: Mnuchin Made $15M Selling Off Assets to Avoid Conflicts of Interest

Kevin Lamarque