>> Is my two sons are going to be running the company.>> America's wealthy president elect putting his sons in charge of his global business empire. But watchdogs calling the plan a recipe for ethical conflicts in the White House. I'm Andy Sullivan in Washington. Donald Trump will still have stakes in hundreds of businesses across the globe when he takes office next week.
He's trying to quiet concerns that he'll thicken his wallet while serving as president. Handing off control, as expected, to sons, Donald Jr. and Eric. Experts say that will do little to limit the risks of bribery, self dealing, and other conflicts of interest.>> These papers. Are just some of the many documents that I've signed turning over complete and total control.
>> That's the plan, but Trump's name will still be on landmark hotels, office towers, and golf courses from Las Vegas to Scotland. When he signs a new tax law, approves a new tariff, or changes other policies that could enrich him further. Past presidents minimized these conflicts by putting their wealth into a blind trust, not Trump.
And as president he's not bound by ethics rules that apply to other US government officials.>> So I could actually run my business. I could actually run my business and run government at the same time. I don't like the way that looks, but I would be able to do that if I wanted to.
I'd be the only one that would be able to do that.>> Trump's sons vowing to turn down any new foreign projects and hiring an ethics officer to review deals in the United States. His daughter Invanka won't be involved because her husband Jared Kushner will be a top White House advisor.
But ethics experts, who have been pushing for complete divestment, saying Trump will be able to keep tabs on his business through his family or the news media. And anyone who wants to curry favor, will be able to do so through his sons. Trump's lawyers say it's impractical to sell of these real estate holdings and licensing deals.
They say that stripped of the Trump name, they would lose much of their value, and he shouldn't be expected to destroy the company that he built. Meanwhile, nine days before he takes office, Trump is still very much in the game. He's bragging about a $2 billion deal in Dubai that he turned down just over the past weekend.