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New Report Blows The Lid Open On Trump’s Financial Ties To Maker Of Hydroxychloroquine

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A new report published by The New York Times has revealed that President Donald Trump owns a stake in a company that produces hydroxychloroquine, the anti-malaria drug he has repeatedly touted as a coronavirus treatment even though his experts say there’s no evidence it works.

Trump “has a personal financial interest” in Sanofi, the French drugmaker that makes Plaquenil, the brand-name version of hydroxychloroquine, The Times reported Monday.

In addition, Sanofi’s largest shareholders include a mutual fund company run by major Republican donor Ken Fisher, the paper said. Trump’s three family trusts, as of last year, each had investments in a mutual fund whose largest holding was Sanofi, according to the Times. Commerce Secretary Wilbur Ross also had ties to the drugmaker, The Times reported.

Trump’s “assertiveness” in promoting the drug contrary to the recommendation of top health experts “has raised questions about his motives,” The Times noted.

A chorus of Trump supporters with no medical expertise have backed the president’s urging of doctors to treat COVID-19 patients with the drug, including his personal lawyer, Rudy Giuliani, and Fox News host Sean Hannity.

In the face of warnings from top infectious disease expert Dr. Anthony Fauci that the drug’s safety and effectiveness are uncertain in treating COVID-19, Trump has continued to laud its supposed benefits.

“What do you have to lose?” he asked at a press briefing this week urging those sick with the virus to take the drug.

Turns out plenty.

“There could be deaths,” American Medical Association President Dr. Patrice Harris said. “This is a new virus, and so we should not be promoting any medication or drug for any disease that has not been proven and approved by the FDA.”

Generic drugmakers also are gearing up to produce hydroxychloroquine pills. One of those companies was co-founded by Trump golfing buddy Chirag Patel, according to the Times.

The White House didn’t immediately answer a request for comment.

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Crime

Trump Is Officially Under Investigation For Fraud By The NY District Attorney: NYT

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The Manhattan district attorney’s office is “investigating President Donald Trump and his company for bank and insurance fraud,” the New York Times reported Monday.

According to The Times, “the office of the district attorney, Cyrus R. Vance Jr., made the disclosure in a new federal court filing arguing Mr. Trump should have to comply with its subpoena seeking eight years of his personal and corporate tax returns.”

“The reports, including investigations into the president’s wealth and an article on the congressional testimony of his former lawyer and fixer, Michael D. Cohen, said that the president may have illegally inflated his net worth and the value of his properties to lenders and insurers. Lawyers for Mr. Trump have said he did nothing wrong.”

The newspaper also reported that Trump has asked a judge to declare the subpoena invalid.

The news comes less than a month after the Supreme Court, in a major ruling on the limits of presidential power, cleared the way for Mr. Vance’s prosecutors to seek Mr. Trump’s financial records.

The Times also noted that the investigation is a “significantly broader inquiry than the prosecutors have acknowledged in the past.”

You can read the entire report on The News York Times.

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