Governor-elect Terry McAuliffe is doing what he can to avoid the ethical missteps of his predecessor. Weeks before he takes the state's highest office, McAuliffe is handing over control of his family's personal assets to a third party.
An attorney for Virginia's future first family announced Monday James Gilder, a Houston-based financial professional and managing director Oppenheimer & Co. Inc., will oversee blind trusts for Mr. and Mrs. McAuliffe. The trusts, created last week, contain millions of dollars in stocks, bonds, and other assets owned by the family.
The governor-elect is in the process of divesting of any potential conflicts of interest, and says he will ban himself, his family, and his administration from accepting gifts worth more than $100 after taking office January 11.
The efforts come in the wake of the gift scandal that consumed Governor Bob McDonnell's final year in office. Governor and Mrs. McDonnell are currently at the center of federal and state investigations into their relationship with a wealthy campaign donor, outgoing Star Scientific CEO Jonnie Williams. According to a report by the Washington Post last week, investigators may seek criminal charges when McDonnell leaves office next month.
Trustee Chosen to Oversee Governor-Elect McAuliffe’s AssetsMore>>
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science.Full Story
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science. Email/Follow on Twitter/ Full Story
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