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Trump sold $35M in real estate in 2017, mostly to secretive buyers   Politics

Started 1/10/18 by DigYourGig; 139 views.
DigYourGig
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From: DigYourGig

1/10/18

President Trump’s companies sold more than $35 million in real estate in 2017, mostly to secretive shell companies that obscure buyers’ identities, continuing a dramatic shift in his customers' behavior that began during the election, a USA TODAY review found.

In Las Vegas alone, Trump sold 41 luxury condo units in 2017, a majority of which used limited liability companies – corporate entities that allow people to purchase property without revealing all of the owners’ names.

In the two years before the nomination, 4% of Trump buyers utilized the tactic. In the year after, the rate skyrocketed to about 70%.

Profits from sales of those properties flow through a trust run by Trump’s sons. The president is the sole beneficiary of the trust and he can withdraw cash at any time.

Knotpicky (RUTA)

From: Knotpicky (RUTA)

1/10/18

Shell companies are often part of money laundering schemes. Trump's behavior here, his company selling the real estate to shell companies, leads one to question if money laundering might be involved.

Actually, I've wondered that for a long time. Trump bankrupting 6 companies makes me suspicious of money laundering, bankrupting before auditors can check for it. That, along with Junior's and/or Kushner's comment that a lot of their income comes from Russia.

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