Rick Scott Stops Using a Blind Trust to Hide His Wealth Because Senate Rules Won’t Let Him

By Tampa Bay Times’ Steve Contorno, 2/11/2019:

U.S. Sen. Rick Scott will no longer keep his vast wealth in a blind trust, like he did during his eight years as Florida’s governor.

Instead, Scott said he will report his assets to the public in annual financial disclosure forms required of all members of Congress.

He didn’t elaborate further. The Tampa Bay Times asked Scott’s Senate office when the Republican made this decision and if the trust is already closed. The story will be updated when they respond.

Scott, the former head of a health care company before a scandalous exit, was the wealthiest governor in state history. His state financial disclosure report — filed late on a Friday evening last June — showed Scott had a net worth of more than $232 million at the end of 2017.

In 2011, Scott created a blind trust that he said would give Floridians confidence that his decisions were in the best interest of the state, not his bank account. In theory, a blind trust should shield a public official from knowing his own holdings or any transactions made by the entity running the trust.

Read more here.

Leave a Reply

Your email address will not be published. Required fields are marked *