1/5 of Trump's US condominiums since 1980 may have been money laundering, 1300 to shell companies

Discussion in 'The War Room' started by JosephDredd, Jan 12, 2018.

  1. JosephDredd

    JosephDredd Gold Belt

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    https://www.buzzfeed.com/thomasfran...ling-condos-to?utm_term=.ubqnXb55V#.kmWGr9XX6

    The full article is at the link and well worth the read. They did one hell of a thorough investigation and go through all his properties in the article.

    Also,

    https://www.rawstory.com/2018/01/ha...r-laundered-stolen-money-through-trump-tower/

     
  2. uncommon

    uncommon Brown Belt

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    alt title

    at least 4/5ths of trump properties were legally mortgaged and the remaining were purchased in cash.
     
  3. JosephDredd

    JosephDredd Gold Belt

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    Fixed.
     
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  4. lilelvis

    lilelvis Brown Belt Platinum Member

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  5. KILL KILL

    KILL KILL Gold Belt

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    That is pretty shady.

    Does anyone with experience in real estate know of any benefits to doing business like this, aside from laundering money?
     
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  6. hillelslovak87

    hillelslovak87 Silver Belt

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    Now this is pod racing!!!
    He's legit, he's legit!! He cares about America, MAGA!! MAGA!! MAGA?! I'm SURROUNDED BY SNOWFLAKES!!!
    [​IMG]
     
  7. Ophydian

    Ophydian Purple Belt

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    I'd like to see Trump condo purchases against the industry to see if its common occurrence or a particular thing for Trump properties.

    What really blows me away is the lack of anti-money laundering required in real estate purchases. You'd think they would be handled like any business.
     
  8. snakedafunky

    snakedafunky Red Belt

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    Yeah the word money laundering certainly gets brought up more and more with Tump now.
    Personally, I think that's what he is trying to protect in the Russian investigation and why he handles it so irrational (even for Trump).
    I don't think it is going to bring down Trump himself. But it could take his Son's or maybe Son in law.
     
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  9. splendica

    splendica Brown Belt

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    "may have been"

    Wolff/Lemon speak right there.
     
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  10. JosephDredd

    JosephDredd Gold Belt

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    What would you have preferred it say?
     
  11. EZShrimpn

    EZShrimpn It, this is. Banned

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    I mean, who do you think buys Trump Luxury condos?

    It's this guy.
    [​IMG]

    Or this guy.

    [​IMG]

    They both pay in cash. Or buy through an intermediary holding company for their own security.
     
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  12. Diamond Jim

    Diamond Jim Silver Belt

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    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.

    https://www.usatoday.com/story/news...al-estate-sales-continue-unabated/1018530001/
     
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  13. PoundMeToo

    PoundMeToo Gold Belt

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    BREAKING: Rich people don't want you to know where they live.
     
  14. Dr. Shoemaker

    Dr. Shoemaker ****BOILERPLATE**** Platinum Member

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    There was a good article on the Wall Street Journal that did a deep dive into the Davos family fortune. It was really interesting to see how most of their personal assets were actually held by LLC's, which in turn held parts of each other. They even had a family business that was responsible for keeping the kids in well-fitting clothes. Structuring it that way seemed a good way to shield the overall wealth from liability.

    Not disclosing the buyer seems a little shady, and I could see how this is a great way to launder money. But there's also a reasonable explanation for a wealthy (potentially well-known) figure to obfuscate their identity during a real-estate purchase.

    Only have a few minutes so I only read the excerpts in the OP; I'm going to read the whole thing later and see if they dive into deeper (sounds so).
     
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  15. Cubo de Sangre

    Cubo de Sangre Steel Belt

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    When I sell something I'm usually unconcerned with how the other party acquired their funds.
     
  16. JosephDredd

    JosephDredd Gold Belt

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    That's especially true when you're laundering money.
     
  17. Cubo de Sangre

    Cubo de Sangre Steel Belt

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    I'd think the opposite.
     
  18. Gandhi

    Gandhi War Room Deep State Platinum Member

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    Not impressed by this, yawn.

    Yes it’s a red flag, but red flags are indicators used to look further at possible crimes and in now way are conclusive.
     
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  19. JosephDredd

    JosephDredd Gold Belt

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    People laundering money are going to object to possibly illegal financial activities?
     
  20. JosephDredd

    JosephDredd Gold Belt

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    What about Haiti claiming Trump laundered money for Duvalier in 1983?
     

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