According to a report from the HuffPost, former Commerce Secretary Wilbur Ross was busy attending to his own financial well-being while serving under Donald Trump — raking in at least $53 million and starting up a new business in the Cayman Islands.
Ross, who was recently accused of creating “an environment of paranoia and retaliation” at Commerce, was working on the taxpayers’ dime while keeping his business deals ongoing during his tenure.
The HuffPost reports, “Ross reported making somewhere between $53 million and $127 million during his four years as head of the Commerce Department. The federal government only requires officials to report broad ranges of outside income,” before adding, “Ross’ many and profitable entanglements with private companies while he was supposed to be looking out for the American taxpayer triggered concern and criticism.”
The report goes on to note that Ross’s Commerce duties didn’t stop him from setting up a new offshore business.
“Ross is already engaged in a new enterprise, a special purpose acquisition company that reportedly attracted $300 million from investors. He established the company in the Cayman Islands in January while he was still in public office, ” the report states.
During his time in the Donald Trump’s cabinet, Ross faced multiple complaints about his business dealings, with CREW accusing him “possible insider trading and other violations when he reportedly shorted Navigator stock after learning that a negative story was coming out in The New York Times about his links to the company,” among other ethical issues.
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