Since Trump was elected, he sold more than $35 million in real estate deals. Most of the sales were sold to buyers that hid behind anonymous corporate entities.
By hiding behind a corporate entity, the buyers are able to remain anonymous.
According to Jordan Libowitz, a spokesman for Citizens for Responsibility and Ethics in Washington, “This could be a way of hiding money coming from foreign governments.”
Two years before his nominations, only 4% of his buyers used this tactic. However, after his nomination, that figure jumped to about 70% and it has continued through his first year in office.
In Las Vegas alone, the Trump Organization sold 41 condo units, including a unit that cost $1.6 million.
The discovery comes as Congress and ethics watchdogs have called on Trump to be more transparent about his domestic and foreign business dealings.
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After his win, he has stated that he would put his business interests into a blind trust that would be managed by his two sons, Trump Jr. and Eric. However, Donald is still the sole beneficiary and can withdraw cash at any time.
Critics and experts say this is not enough and poses a ton of ethical problems.
Many believe Trump continues to be involved and hasn’t properly separated himself from his business dealings.
According to Jeng Chi Hung, the director of revenue management for Trump International Hotel in Washington, D.C., Trump is still involved in his business. She revealed this in a September email.
Hung wrote, “DJT is supposed to be out of the business and passed on to his sons, but he’s definitely still involved…so it’s interesting and unique in that way.”
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