Since election day,half of Trump luxury condos & homebuilding lots sold have gone to shell companies

[JHan]

Unlike developments where Trump licenses his name to a separate developer for a flat fee, profits from selling individual properties directly owned by his companies ultimately enrich him personally.

Trump has never disclosed a complete, unit-by-unit inventory of his companies' real estate holdings or sales, nor is he required to do so by federal law. Trump says he's separated himself from his businesses, but the trust set up in January is run by his sons. Trump is the only beneficiary and can withdraw funds at any time.

The volume of real estate creates an extraordinary and unprecedented potential for people, corporations or foreign interests to try to influence a president. Anyone who wanted to court favor with the president could snap up multiple properties or purposefully overpay. They could buy in the name of a shell company, making it impossible for the public to know who was behind the sales.

The potential for conflicts is exacerbated by Trump's refusal to release his tax returns or fully separate himself from his businesses, breaking with precedent set by presidents going back four decades. Since Congress passed the Ethics in Government Act in 1978, all six presidents from Carter to Obama established blind trusts or limited investments to assets like mutual funds. Trump has not.

The president is exempt from most conflict-of-interest laws that apply to others working in the federal government. He is not required to disclose when units sell or who bought them.

He is barred by the Constitution from receiving gifts from foreign governments or officials. Trump’s assessment that the ban doesn’t apply to market-rate transactions is debated in lawsuits and among ethics experts.

Regardless, it may be impossible for the public to even know who is behind purchase because the rules governing real estate transactions allow for shell companies to make purchases without disclosing who actually paid the money

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https://www.usatoday.com/story/news/2017/04/20/trump-owns-250m-condos-and-you-could-buy-one/100566302/

[haele]

1. Stinks of RICO, whomever has actually purchased the property.

High end real estate that sits vacant is typically a sign of a money-laundering or profit-parking operation.

Haele

[uponit7771]

2. +1

[JHan]

5. that's my suspicion too, Rachel digging into it now.

[world wide wally]

3. Another day... Another milestone in corruption

[JHan]

4. Rachel discussing it now on show.

[NCTraveler]

6. Great share.