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 at 12:25 PM.

  1. JosephDredd Gold Belt

    JosephDredd
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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/

     
    #1
  2. uncommon Brown Belt

    uncommon
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    alt title

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

    JosephDredd
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    Fixed.
     
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  4. lilelvis Purple Belt

    lilelvis
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  5. KILL KILL Gold Belt

    KILL KILL
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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 Red Belt

    hillelslovak87
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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]
     
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  7. Ophydian Blue Belt

    Ophydian
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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.
     
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  8. snakedafunky Black Belt

    snakedafunky
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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 Brown Belt

    splendica
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    "may have been"

    Wolff/Lemon speak right there.
     
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  10. JosephDredd Gold Belt

    JosephDredd
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    What would you have preferred it say?
     
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  11. EZShrimpn It, this is.

    EZShrimpn
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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 Red Belt

    Diamond Jim
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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. headkicktoleg Only this manupod crescent in shape has escaped

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

    Shoemaker
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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 Steel Belt

    Cubo de Sangre
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    When I sell something I'm usually unconcerned with how the other party acquired their funds.
     
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  16. JosephDredd Gold Belt

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

    Cubo de Sangre
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    I'd think the opposite.
     
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  18. Gandhi War Room Deep State

    Gandhi
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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 Gold Belt

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

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