Romney plans to use federal blind trust if elected

WASHINGTON (AP) — A week after Republican presidential candidate Mitt Romney disclosed a fortune worth as much as $250 million, his campaign said Wednesday that he plans to put his holdings in a federal blind trust if he is elected president.

A Romney campaign official said there have been long-standing plans to shift the candidate’s assets from a trust overseen by a Boston attorney to a stricter blind trust overseen by federal officials if he wins in November. Some assets might be disclosed or sold off before such a move, campaign spokeswoman Andrea Saul said.

“If Gov. Romney is elected president, his blind trust will be terminated and a new federal blind trust will be created,” Saul said. “Any assets that are not fully compliant with federal disclosure and other rules applicable to the office of the presidency will be disposed of.”

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