HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » The four questions the Ma... » Reply #5

Response to lindysalsagal (Reply #3)

Fri Aug 17, 2018, 06:22 AM

5. They're different...

The shelf companies came up in the trial. They're companies that are established as any other company would be, but they have no activity whatsoever once created, other than filing periodic documents as required by the local authorities. They've been 'put on the shelf', so to speak. Since they are literally dormant, if someone needs a new company to handle something in a hurry, a shelf account can be purchased from whomever has control of it, dusted off quickly and re-purposed. I think Manafort was using shelf companies established by a law firm in Cyprus.

Shell companies don't actually engage in any kind of ongoing business operations. They can hold assets for other parties, however, and then transfer them out to other entities. If they were created with bad intent, often in small island nations with loose oversight, they tend to be way-stations for money going on the grand tour of the international banking system, in an effort to mask its origins.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Please login to view edit histories.