President Donald Trump is facing an investigation after speaking at a private event for top investors in his $ Trump Memcoin, while standing behind a lecturen emblazon with the official president’s seal – a step that can violate the federal law.
The event was held on Thursday at the Trump National Golf Club in Virginia, where Trump addressed 220 investors at his Cryptocurrency Project.
According to us LawThe President’s seal cannot be used in any way which can be the government approval or sponsorship. Violers may face a fine or a prison of up to six months.
Trump, who arrived at the club in a military helicopter, praised the attendees and targeted the crypto trend of the Biden administration.
When asked about the possible struggles of interest, the press secretary of the White House Karoline Said The President’s participation was individual. “This is not a white house dinner,” he told reporters. “This is not happening here in the White House.”
Connected: Pictures give a glimpse inside Trump’s Memcoin holder dinner
President is sealed on private properties in Trump
This is not the first time Trump has depicted the President’s seal on his personal properties. Forbes is the first Informed Its use as a golf marker in clubs owned by many trump.
In a letter of May 22 to the Department of Justice, 35 House members asked Edward Sulivan, the public integrity section, to initiate an investigation at Memcoin Dinner, whether it violates the federal bribery law or foreign emoluments segment of the US Constitution.
Under the Emoluments section, an US President is prevented from accepting any gift from a foreign state without the approval of the Congress.
Bloomberg Informed Most of the attendees at the Memcoin dinner were likely to have foreign nationals based on their connection to crypto exchanges.
“American law prevents foreign individuals from contributing to American political campaigns,” the letter said. “However, $ Trump Memcoin, including promoting a dinner promising special access to the President, opens the door to buy effects with the President for foreign governments, all without disclosing their identity.”
Connected: US MP introduced anti -corruption bill before Trump’s dinner
Trump hugs Crypto despite last doubt
The hug of Trump’s Crypto marked a sharp turn from his suspicion during his first term. Launched earlier this year, $ Trump Memcoin reached $ 74.34 before May 22 fell by $ 14.44.
High-profile guests at dinner included Tron founder Justin Sun, East-NBA player Lamar Odom and Asian Crypto official Sangarok Oh and Vincent Liu.
Sun, who reportedly invested in more than $ 40 million in Trump tokens and spoke at dinner, also has a deep connection with Trump’s crypto undertakings. He is the top backer of the World Liberty Financial, who is currently a trump-bound firm under the regulatory investigation.
magazine: Crypto scam hub exposure stunt goes viral, Kakao detects 70K scam apps: Asia Express
