The majority of real estate properties sold by President Trump’s corporations since he clinched the Republican nomination for president have been purchased by shell companies, a new investigation has found.
USA Today spent six months analyzing the transactions of every real estate property that Trump and his companies own and found that 70 percent of purchasers were shell companies, which allow people to buy property without revealing the buyer’s name.
Only four percent of the buyers used shell companies in the two years before, according to the newspaper.
Trump’s businesses have sold $33 million in properties since Election Day last November, including 28 properties spanning New York, Las Vegas and Los Angeles, according to the report.
Profits from the sale of the properties go into a trust that is managed by Trump’s sons, but which Trump is the sole beneficiary and can withdraw money from at his pleasure.
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Majority of Trump real estate sold in last year bought by anonymous buyers: analysis https://t.co/mBvLu6M9s5 pic.twitter.com/MqjHhuuy3P
— The Hill (@thehill) June 14, 2017
How many of those buyers were Russian?
Or Saudi?
Before Trump locked prez nomination only 4% of his real estate went to LLCs. After: About 70%. Exclusive analysis: https://t.co/DBEIvJ1Svt
— USA TODAY (@USATODAY) June 13, 2017
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