Shell companies spend $890M on Trump condos during financial crisis

Timeline Eventconfirmed
financial-crisismoney-launderingshell-companiesreal-estatedelaware-llcall-cash-salesforeign-corporations
International Kleptocracy
Actors:Trump Organization, Anonymous shell companies, Delaware LLCs, British Virgin Islands corporations, Panama corporations
2008-01-01 · United States · 1 min read

From 2008-2012, shell companies spent $890 million buying 823 Trump condos in cash – 25% of units sold. Delaware LLCs bought an additional 75 Trump condos for $129 million. More than 87% were in Trump-licensed buildings, with sales surging during Trump's financial troubles when he couldn't make a $40 million loan payment and faced $2 billion in accumulated debt.

Sources

  1. Secret Money - How Trump Made Millions Selling Condos To Unknown BuyersBuzzFeed News (archived)(2018-01-12)
  2. Trump condo sales indicate possible money laundering, says reportCurbed(2018-01-12)
  3. Trump Has Sold Millions in Real Estate to Secret BuyersNewsweek(2018-01-12)
  4. Pandora Papers reveal new details on Trump defeat donor's money laundering pastMiami Herald(2021-10-03)
  5. Narco-a-lago - Money Laundering at the Trump Ocean Club, PanamaGlobal Witness(2017-11-17)
  6. Trump sold $1.5 billion of condos to potential money launderers thanks to this gaping loopholeQuartz(2018-01-12)
  7. Cracking the Shell - Trump and the Corrupting Potential of Furtive Russian MoneyCenter for American Progress(2018-03-02)