July 22, 2018

Russian connected people have paid $109 million in cash for Trump properties

Metro USA  -People connected to Russia or former Soviet republics have paid cash for 86 Trump-branded properties, a total of $109 million, with many of them using shell companies, McClatchy has reported.

.... Accepting cash for real estate is legal, but the practice — along with buying under a shell company, obscuring the identity of the buyer — raises red flags at the Treasury Department for potential money laundering. Special counsel Robert Mueller's investigation into collusion between Russia and the Trump campaign has reportedly broadened to whether Trump's real-estate businesses helped Russians launder money.

“The size and scope of these cash purchases are deeply troubling as they can often signal money laundering activity," Rep. Adam Schiff (R-CA), the top Democrat on the House Intelligence Committee, told McClatchy. "There have long been credible allegations of money laundering by the Trump Organization which, if true, would pose a real threat to the United States in the event that Russia were able to leverage evidence of illicit financial transactions against the president."

1 comment:

greg gerritt said...

I have been surprised that the fact that Trump borrows money from Russia all the time has not been headlines in his recent love affair with Putin.