Trump official rakes in $280M tax free with 'ethics agreement': report

President Donald Trump's commerce secretary Howard Lutnick is emulating his boss by transferring away "his ownership interests in multiple affiliated companies" to trusts that will benefit his adult children, The Wall Street Journal reported Monday.

Lutnick, a billionaire, served as chairman and chief executive of financial-services firm Cantor Fitzgerald until he was appointed to Trump's cabinet in February.

In keeping with "a government ethics agreement," Lutnick created the trusts...