Secret Money: How Trump Made Millions Selling Condos To Unknown Buyers

[pnwmom]

Source: BuzzFeed News

A BuzzFeed News review of every sale of a Trump-branded condominium in the United States provides the first comprehensive look at how many went to unidentified buyers who paid cash, an indication of possible money laundering.

More than one-fifth of Donald Trump’s US condominiums have been purchased since the 1980s in secretive, all-cash transactions that enable buyers to avoid legal scrutiny by shielding their finances and identities, a BuzzFeed News investigation has found.

Records show that more than 1,300 Trump condominiums were bought not by people but by shell companies, and that the purchases were made without a mortgage, avoiding inquiries from lenders.

Those two characteristics signal that a buyer may be laundering money, the Treasury Department has said in a series of statements since 2016. Treasury’s financial-crimes unit has, in recent years, launched investigations around the country into all-cash shell-company real-estate purchases amid concerns that some such sales may involve money laundering. The agency is considering requiring real-estate professionals to adopt anti-money-laundering programs.


Read more: https://www.buzzfeed.com/thomasfrank/secret-money-how-trump-made-millions-selling-condos-to?utm_term=.ne9bKOnQee#.vfqlwKXNzz

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I hope Mueller's team is investigating these sales, too.

Good for BuzzFeed!

[erronis]

1. ALERT! Time to cut the Treasury Department's budget a lot more

"I thought my people were in there. Working on this. Need to get govt off our backs!"

[Leghorn21]

2. Thanks, mom! - yeah, just HOW MANY shell companies does FINCEN or whoever have to

unravel?!? My eyes cross at the thought of investigating these nefarious entities one by one,
omg - and I do believe just dissecting the black-money Florida real estate bidness alone is one reason this whole affair is taking so long (though it’s actually moving at a breakneck pace, I have heard!)

“Shady Sunny Isles”, yup

[Lucinda]

3. KNR

[BigmanPigman]

4. I thought your post said condoms (not condos).

Sometimes my eyes and mind get their wires crossed and I come up with amusing interpretations. I needed the laugh though.

[pnwmom]

5. If you really want to laugh

imagine me as a young new bride and accidentally saying "condoms" to my new mother-in-law instead of "condos."

As in, "We're looking at some condoms."

My husband thought that was pretty funny.

[disalitervisum]

6. Bayrock LLC: Trump properties multi-layered equity and tax evasion/distribution frauds

[kwassa]

7. This is the link between Trump and the Russian oligarchs ....

who might own his pasty white ass.

I wonder if Putin indirectly owns Trump condos.

[DeminPennswoods]

9. IIRC, USA Today did a similar investigation

before Trump was elected.

[Duppers]

8. Condo-Laundry biz

"Follow the money." You can bet Mueller's team is investigating these sales.

[FakeNoose]

10. Trump has been laundering money for the Mafia and the Russian oligarchs for a long time

This article is showing a lot of details on how he got away with it for so long. Also laundering going on at Trump's casinos but that was small potatoes compared to the condo sales. Why launder $ thousands when you can safely do it for $ millions? This guy has been scamming the US government for just about his entire life.

The FBI and special investigator Mueller do have this info by the way.