Who says so? The US Government Accountability Office. It recently released a report assessing Trump’s decision to loosen reporting requirements for shell companies. These are corporations that can have legitimate uses but are also set up so people or entitites can evade taxes, launder money, hide assets, and obscure the true beneficiaries of financial transactions. For instance, a sanctioned Russian oligarch might be able to use a shell company—or a string of them—to buy real estate in the United States and keep secret his ownership of the property...
During the 2020 presidential race, Trump’s campaign, according to the Campaign Legal Center, deployed an LLC to launder “$170 million in spending to conceal payments to people close to the Trump family and campaign.”…
“Wealthy Chinese investors are quietly funneling tens of millions of dollars into private companies controlled by Elon Musk” through “opaque structures” and “an arrangement that shields their identities from public view.”…
