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Thread: Trump Made Millions Selling Condos To Unknown Buyers

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    Trump Made Millions Selling Condos To Unknown Buyers

    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.


    All-cash purchases by shell companies do not by themselves indicate illegal or improper activity, and they have become more common in recent years in both Trump buildings and other luxury home sales across the United States. Developers such as Trump have no obligation to scrutinize their purchasers or their funding sources. But federal investigations “continue to reveal corrupt politicians, drug traffickers and other criminals using shell companies to purchase luxury real estate with cash,” Treasury’s former financial-crimes chief Jennifer Shasky Calvery said at a Capitol Hill hearing in 2016. Treasury’s Financial Crimes Enforcement Network (FinCEN) broadcast that concern in an August 2017 advisory to the real-estate industry warning that all-cash real-estate purchases by shell companies are “an attractive avenue for criminals to launder illegal proceeds while masking their identities.”

    t’s not clear how much Trump received from the sale of Trump-licensed condos, but when Trump announced his candidacy in 2015, he said his “real estate licensing deals” and other brands were worth $3.3 billion.

    At the Trump SoHo Hotel Condominium New York in Manhattan, 77% of the sales were to shell companies that paid cash. One of the project’s Russia-born developers was convicted of money laundering in the 1990s. A pending lawsuit calls Trump SoHo a “monument to spectacularly corrupt money-laundering and tax evasion,” though it says in a footnote that “there is no evidence that Trump took any part in, or knew of, their racketeering.”

    https://www.buzzfeed.com/thomasfrank...Zdq#.bdwqw9QKz

    It's almost always about the money.
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    New Member LuvMyPups's Avatar
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    Quote Originally Posted by HayJenn View Post
    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.


    All-cash purchases by shell companies do not by themselves indicate illegal or improper activity, and they have become more common in recent years in both Trump buildings and other luxury home sales across the United States. Developers such as Trump have no obligation to scrutinize their purchasers or their funding sources. But federal investigations “continue to reveal corrupt politicians, drug traffickers and other criminals using shell companies to purchase luxury real estate with cash,” Treasury’s former financial-crimes chief Jennifer Shasky Calvery said at a Capitol Hill hearing in 2016. Treasury’s Financial Crimes Enforcement Network (FinCEN) broadcast that concern in an August 2017 advisory to the real-estate industry warning that all-cash real-estate purchases by shell companies are “an attractive avenue for criminals to launder illegal proceeds while masking their identities.”

    t’s not clear how much Trump received from the sale of Trump-licensed condos, but when Trump announced his candidacy in 2015, he said his “real estate licensing deals” and other brands were worth $3.3 billion.

    At the Trump SoHo Hotel Condominium New York in Manhattan, 77% of the sales were to shell companies that paid cash. One of the project’s Russia-born developers was convicted of money laundering in the 1990s. A pending lawsuit calls Trump SoHo a “monument to spectacularly corrupt money-laundering and tax evasion,” though it says in a footnote that “there is no evidence that Trump took any part in, or knew of, their racketeering.”

    https://www.buzzfeed.com/thomasfrank...Zdq#.bdwqw9QKz

    It's almost always about the money.
    His corporation sold Condos. He's a developer. Investors typically back Developers. That's the way it works. Trump is not going to know every single buyer. Why are you being silly? Even your article states “there is no evidence that Trump took any part in, or knew of, their racketeering.” Then there is the fact that Buzzfeed is being sued by Trump. This article can be debunked on that premise alone.
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    Quote Originally Posted by LuvMyPups View Post
    His corporation sold Condos. He's a developer. Investors typically back Developers. That's the way it works. Trump is not going to know every single buyer. Why are you being silly? Even your article states “there is no evidence that Trump took any part in, or knew of, their racketeering.” Then there is the fact that Buzzfeed is being sued by Trump. This article can be debunked on that premise alone.
    So explain to me why he did a deal with Felix Sater - a well known Russian mobster? He even had a Trump business card with his name on it.

    BTW, Buzzfeed is not the only one reporting on this.

    My husband works in real estate development. You usually only do shell corps when your trying to hide something.

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    New Member LuvMyPups's Avatar
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    Quote Originally Posted by HayJenn View Post
    So explain to me why he did a deal with Felix Sater - a well known Russian mobster? He even had a Trump business card with his name on it.

    BTW, Buzzfeed is not the only one reporting on this.

    My husband works in real estate development. You usually only do shell corps when your trying to hide something.
    Again, I quote YOUR article. “there is no evidence that Trump took any part in, or knew of, their racketeering.”
    Lots of people work in Real estate development but very few on the same level as Trump, so I'm sure your husband works on the Multi Billion dollar scale as the Trump corporations, correct?

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    Quote Originally Posted by LuvMyPups View Post
    Again, I quote YOUR article. “there is no evidence that Trump took any part in, or knew of, their racketeering.”
    Lots of people work in Real estate development but very few on the same level as Trump, so I'm sure your husband works on the Multi Billion dollar scale as the Trump corporations, correct?
    Guess we will see what the Mueller investigation finds out. You can be sure he's looking at all those condo deals...with Russians.
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    New Member LuvMyPups's Avatar
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    Just as congress is looking into corruption in the FBI and DOJ. I'm sure it will all come out.

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    Quote Originally Posted by LuvMyPups View Post
    Just as congress is looking into corruption in the FBI and DOJ. I'm sure it will all come out.
    #fakenews

    Those investigations are going no where - sad when a President tries to make independent agencies a political football.

    Meanwhile Mueller is looking to schedule a time when he can interview Trump.
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    Dick with my Buzz...Try DebateDrone's Avatar
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    Quote Originally Posted by LuvMyPups View Post
    His corporation sold Condos. He's a developer. Investors typically back Developers. That's the way it works. Trump is not going to know every single buyer. Why are you being silly? Even your article states “there is no evidence that Trump took any part in, or knew of, their racketeering.” Then there is the fact that Buzzfeed is being sued by Trump. This article can be debunked on that premise alone.
    That is why Trump Inc. did that type of deals. No connections could be made. There is need to launder lots of cash...and Trump used the laws to make a profit.

    When Hillary Clinton brought up his not paying taxes...Trump responded that made him smart.

    Donald Trump uses a legal way to launder money.
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    Quote Originally Posted by LuvMyPups View Post
    Again, I quote YOUR article. “there is no evidence that Trump took any part in, or knew of, their racketeering.”
    Lots of people work in Real estate development but very few on the same level as Trump, so I'm sure your husband works on the Multi Billion dollar scale as the Trump corporations, correct?
    Nope, no evidence at all.
    Why would a logical, common sense person even question it?

    Behind Trump’s Russia Romance, There’s a Tower Full of Oligarchs

    On the 78th floor: a Russian who once was accused of mob ties and extortion by an oligarch. On the 79th, an Uzbek jeweler investigated for money laundering who was eventually executed on the street in Manhattan. And four floors higher, a pro-Moscow Ukrainian politician whose party hired a Donald Trump adviser.
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    So if something was illegal why don't you just prosecute him then?

    Sounds like a slam dunk huh?

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