(By Norman Eisen and Gabriel Lezra, The Contrarian, 13 Dec 2025)
That’s why we’ve had a hard time picking the worst instances
of his corrupt self-enrichment, not to mention that of his cronies and family.
So if you don’t see your favorite scheme on this list, don’t worry—there are
too many! Here’s our latest Top 10 Worst list, followed, as usual, by this
week’s brilliant Contrarian coverage.
1: Trump’s Qatari Boeing
In May, Qatar presented Trump and his administration with a
$400 million Boeing 747, ostensibly to use as Air Force One—a present
reportedly worth more than all foreign gifts bestowed on all former American
presidents combined. As my colleagues and I noted in a legal complaint, the
Trump administration is apparently illegally transferring the nearly $1 billion
from a nuclear weapons program at the Defense Department to retrofit the jet, a
gross mismanagement of key federal funds. And it will barely have time in the
air before Trump’s term ends and it gets “donated” to Trump’s presidential
library for his continued use. Meanwhile, after the transfer, Qatar got a
guarantee that the United States will defend Qatar through “diplomatic,
economic, and, if necessary, military” measures and a new “military facility”
for Qatar’s Air Force at the Mountain Home Air Force Base in Idaho. Trump has
defended the transfer of the plane as a legitimate “gift” and the White House
said that “any gift given by a foreign government is always accepted in full
compliance with all applicable laws. President Trump’s administration is
committed to full transparency.”
Current Status: We’re waiting for the Government
Accountability Office to act on our complaint—but it’s hard to imagine a
clearer conflict of interest.
2: World Liberty Financial
After the Trump family helped promote cryptocurrency company
World Liberty Financial (WLFI), it began encouraging foreign investors to buy
into the venture. The conflicts of interest have since gotten only worse, as we
discuss in our report on Trump’s crypto conflicts. This includes the
involvement of alleged fraudster Justin Sun (see No. 6 below). Then there is
“shadowy” United Arab Emirates-based Aqua1 Foundation, which invested $100
million in WLFI in June. WLFI also sold its tokens to at least 62 users that
also used TornadoCash, an Office of Foreign Asset Control-sanctioned crypto
mixing service that the Justice Department alleged helped criminals and hackers
“launder more than $1 billion of illicit assets.” The Biden administration
sanctioned Tornado Cash in 2022, but the Trump administration lifted the
sanctions in March 2025. Donald Trump Jr. has said that the idea that WLFI
investors may be seeking favor with the Trump administration is “complete
nonsense.”
Current Status: Not only is WLFI—and Trump’s crypto
empire—flourishing, but Congress is rushing to pass legislation creating a
market structure for cryptocurrency without any checks on Trump’s ability to
influence the market to his benefit. Our legal team is working night and day to
stop that from happening.
3: The Meme Coin Grift
Trump’s meme coin represents perhaps his most brash
self-enrichment scheme, one unlike anything we have ever seen from an American
president. According to the website, the token is “intended to function as an
expression of support for, and engagement with, the ideals and beliefs embodied
by the symbol “$TRUMP“—and not as an investment or security. But of course,
this slice of code was listed on various crypto exchanges and immediately
surged in price. Since its launch, the coin’s value closely followed Trump’s
announcements, with wild fluctuations. The president even hosted an exclusive
dinner for meme coin “investors” who spent tens of thousands to buy the digital
token. This access auction was a scheme so brazen—even for Trump—that it left
ethics experts like us stunned. The White House denies any conflicts of
interest.
Current Status: The Trump-dominated Securities and Exchange
Commission has shown zero interest in examining Trump’s meme coin activities.
This makes defeating the new crypto market bill even more important. Our fight
continues.
4: Trump’s Foreign Real Estate Boom
Trump is set to more than triple his foreign properties
during this term, as real estate developers are working on at least 23
Trump-branded projects. These projects are a global feeding frenzy for foreign
governments looking to curry favor with the president. To take only a few
examples, Trump is building a hotel, golf course, and residences in Oman on
property owned by the government. A Saudi real estate firm (with close ties to
the Saudi government) is the Trump Organization’s partner in various real estate
deals, including a new Trump Hotel in Dubai and a residential tower in Jeddah.
In November, the Trump Organization announced a project in the Maldives with
the same Saudi firm. The very next day, Trump met with Saudi Crown Prince and
Jared Kushner buddy Mohammed bin Salman and announced an “Economic and Defense
Partnership” with the kingdom. Hard to come up with better reasons why the
Constitution prohibits the president from accepting foreign emoluments. When
asked about possible conflicts of interest in the context of Trump’s
then-upcoming trip to the Middle East, Press Secretary Karoline Levitt claimed
that it was, “ridiculous that anyone in this room would even suggest that
President Trump is doing anything for his own benefit.”
Current Status: Each individual property may constitute an
emoluments clause violation. We at Democracy Defenders Fund include leaders of
the team that won multiple emoluments cases against Trump in his first term,
and we are evaluating how to fight back now. Watch this space!
5: The USD1 Binance-UAE Deal
Less than two months after Trump’s WLFI launched USD1, its
stablecoin, a UAE state-backed investment firm announced that it would use USD1
to finance a $2 billion investment in crypto exchange Binance, which was then
under SEC investigation. In May, Binance decided to list USD1–and, days after
the announcement, Trump’s SEC dropped its securities case against the exchange.
And then there’s Trump’s treatment of Binance’s head Changpen “CZ” Zhao. He
pleaded guilty to money laundering in 2023 and got a Trump pardon in October of
this year. The White House defended Zhao, criticized his prosecution, and
blamed the Biden administration for creating a “war on cryptocurrency.“
Current Status: Expect to keep hearing about this
one—especially as campaign season approaches.
6: Justin Sun’s “Investment” in Trump
Crypto
Justin Sun is a cryptocurrency entrepreneur facing SEC fraud
charges. Sun loudly bought $75 million of WLFI tokens starting in November
2024. The SEC in March 2025 delayed its fraud case against Sun. Come May 2025,
Sun—also loudly—purchased $20 million of Trump’s meme coin, gaining entrance to
a personal dinner with the president. The timing and scale of the investments
raise questions about whether Sun is trying to buy his way out of federal
trouble—and into Trump’s good graces. When pressed about the ethics of the
crypto dinner, Leavitt attempted to assuage fears, “I can assure you, the
president acts with only the interests of the American public in mind.”
Current Status: Sun continues expanding his cryptocurrency
empire while his case remains delayed according to the most recent entry in the
court docket.
7: Tom Homan’s $50,000
In September 2024, before Trump’s election, his future
Border Czar Tom Homan allegedly accepted a $50,000 payment from undercover
federal agents posing as business executives. Homan reportedly indicated he
could assist them to secure government contracts should Trump win—and there is
said to be a tape in government hands. After the Trump team took over, the
investigation was reportedly closed. Homan says that he did “nothing criminal”
and that “I recused myself from any discussions of any contract or any monetary
decisions like that….”
Current Status: My Democracy Defenders colleagues and I
stepped in, launching an investigation in September. It is continuing and all
legal remedies are on the table.
The $300 Million Ballroom Boondoggle
In the middle of the longest government shutdown ever, as
federal workers were going without pay and standing in bread lines, Trump
ordered the destruction of the historic East Wing to build a massive, $300
million-plus ballroom. Trump says he’s funding the ballroom through private
sponsorships. What a kind, altruistic gesture from the corporate donors, who
have over the years received billions in federal contracts–and 14 of whom are
currently facing federal enforcement actions. The White House has advised journalists
concerned about the lack of oversight to, “trust the process,” and said that,
“a submission is not required legally,” to tear down the East Wing.
Current Status: A lawsuit has just been filed to stop
construction because of alleged legal violations and a TRO hearing is set for
next week.
The Executive Branch Club
After his father was sworn in, Donald Trump Jr. and business
partners Zach and Alex Witkoff (the sons of Trump envoy Steve Witkoff) and
others, launched a new private club in D.C. They brazenly named it “The
Executive Branch.” This tacky tavern–whose “coat of arms” is topped by an
ersatz presidential eagle–raises serious ethics concerns. Members are lining
the pockets of the Trump and Witkoff families with reported huge initiation
fees (said to be up to $500,000) plus additional annual dues for the well-heeled
to mingle with government officials and their kin–not unlike its likely
inspiration, Mar-a-Lago.
Current Status: The venue continues to serve as a potential
influence-peddling hotspot.
Amazon Prime Video Presents: Melania
About two weeks before Trump’s inauguration, Amazon Prime
Video announced that it was releasing a documentary about Melania Trump—a $40
million bargain for Amazon. It’s hard to imagine Amazon picking up this project
at this hefty price point without considering the company’s relationship with
the Trumps. Amazon just settled one major case brought against it by the Biden
Federal Trade Commission for $2.5 billion, with another potentially even larger
case ongoing, and the company is also a large federal contractor (it received
another $1 billion in expanded cloud computing contracts in August). An Amazon
spokesperson stated, “We licensed the upcoming Melania Trump documentary film
and series for one reason and one reason only—because we think customers are going
to love it.”
Current Status: The film is set to hit theaters in January,
kicking off what promises to be another year of the Trump family’s shameless
profiteering off the presidency. Amazon has released a still image of Melania
peering out a car window onto a nondescript tarmac—not exactly a $40 million
view.
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