Trump targets forfeited assets from sanctions violator for wall-building funds

Trump targets forfeited assets from sanctions violator for wall-building funds
Border wall (Image: Fox News video screen grab)

[Ed. – Considering Obama used forfeited assets and settlement fines all the time for what were basically crony payoffs, it’s not like using them to pay for something the nation actually needs would be more egregious.  I’m not a fan of these uses of money outside of congressional oversight, however.  Would rather see it get done through the front door.]

The White House is targeting a windfall from an international banking scandal to help pay for the border wall, according to an administration official.

French bank Societe Generale struck a deal with the U.S government in November to pay $1.3 billion after admitting that it violated U.S. sanctions on Cuba and Iran for years. The administration is hoping to funnel as much as $359 million from that settlement to a special account at the Treasury Department to fund the wall, the official said.

Yet it’s unclear whether the White House can use the money for the wall. The Treasury account — known as the asset forfeiture fund — is made up of cash, property and other items seized during civil and criminal investigations. Use of the funds is restricted by federal law…

Trending: Pelosi introduces House resolution to censure Trump: What else is new?

Continue reading →

Commenting Policy

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.