Trump property buyers make clear shift to secretive shell companies – Pennsylvania News

Trump property buyers make clear shift to secretive shell companies – Pennsylvania News

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Ever since winning the Republican nomination, the majority of President Donald Trump’s companies’ real estate sales have gone to shell companies that conceal the buyers’ identities.
USA TODAY

Since President Trump won the Republican nomination, the majority of his companies’ real estate sales are to secretive shell companies that obscure the buyers’ identities, a USA TODAY investigation has found.

Over the last 12 months, about 70% of buyers of Trump properties were limited liability companies – corporate entities that allow people to purchase property without revealing all of the owners’ names. That compares with about 4% of buyers in the two years before.

USA TODAY journalists have spent six months cataloging every condo, penthouse or other property that Trump and his companies own – and tracking the buyers behind every transaction. The investigation found Trump’s companies owned more than 430 individual properties worth well over $250 million.

Since Election Day, Trump’s businesses have sold 28 of those U.S. properties for $33 million. The sales include luxury condos and penthouses in Las Vegas and New York and oceanfront lots near Los Angeles. The value of his companies’ inventory of available real estate remains above a quarter-billion dollars.

Profits from sales of those properties flow through a trust run by Trump’s sons. The president is the sole beneficiary of the trust and…

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