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President Donald Trump made tens of millions of dollars in profits by allowing Colombian drug cartels and other groups to launder money through a Trump-affiliated hotel in Panama, according to a new investigation by the organization Global Witness.
In the early 2000s, Trump was having financial difficulties and began selling his high-profile name to real estate developers around the world, the report said. One of these developed Panama’s Trump Ocean Club International Hotel and Tower.
The report said the drug cartels purchased hotel units to hide the origins of money earned through drug trafficking and other criminal activity, and Trump is estimated to have earned tens of millions of dollars from the deals.
Location: Big Island of Hawaii & HOT BuOYS Sailing Vessel
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Sounds feasible but would be better if specific transactions were named instead of generalities.
What I don't understand is why money would be laundered in this manner unless they were delivering truck loads of drug cash to buy properties in hard currency.
Be surprised who is all involved in making drug cartels a huge enterprise— it’s not your local druggies in the gutter. Hedge funds are full of very dirty blood money. But stay in denial ...ps. Posting from San Juan -local Leo’s not paid. Fed Leo’s down by 1/2 and drug Bz is doing very well.
According to April Glasser in Slate, the Trump organization licenses the Trump name, an arrangement that limits legal and financial exposure by avoiding directly overseeing sales.
"Trump’s name helped secure the financing for the building, and he got a cut of every unit sold."
Sounds feasible but would be better if specific transactions were named instead of generalities.
What I don't understand is why money would be laundered in this manner unless they were delivering truck loads of drug cash to buy properties in hard currency.
Was Trump accepting hard cash?
Was it a firm Trump contracted with?
Lots of unknowns here.
It's a Newsweek story and not very quality piece.
Just another factless hit piece by a Soros front group.
"The younger Soros who visited Liberia sits on the board Global Witness, which exposes and breaks the links between natural resources, conflict and corruption; and the Open Society Foundations, the New York City-based group founded by his dad who works to build vibrant and tolerant democracies."
From what I've read, property is a great way to launder ill-gotten gains. Much of this goes on in Florida and NYC.
Shell companies are used to buy property.
When the property is sold, the money is no longer attached to the shell companies and the financiers behind them or how they obtained their money be it fraud, robbery, tax evasion... The money is now "clean."
Trump gets a cut of these transactions while maintaining he is not directly involved.
Last edited by GotHereQuickAsICould; 11-18-2017 at 07:18 AM..
The Trump Administration is nothing more than a criminal enterprise run for, by and for the benefit of crooks.
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