Trump helped former dictator launder moneyWatch
More than a fifth of Trump’s condominiums in the U.S. have been purchased since the 1980s in secretive cash transactions that fit a Treasury Department definition of suspicious transactions, reported Buzzfeed News.
Records show more than 1,300 Trump condos were purchased through shell companies, which allow buyers to shield their finances and identities, and without a mortgage, which protects buyers from lender inquiries.
According to the Buzzfeed News report, the Haitian government complained in the 1980s that former dictator Jean-Claude Duvalier laundered money stolen from the Caribbean nation’s treasury by purchasing an apartment in Trump Tower.
Duvalier, nicknamed “Baby Doc,” was overthrown in 1986, but three years earlier used a Panamanian shell company called Lasa Trade and Finance to buy an apartment in Trump’s Manhattan tower for $446,875 cash.
Federal prosecutors charged a Russian native in 1984 with laundering the proceeds from a gasoline bootlegging operation through five Trump Tower condos purchased for $4.9 million.
Trump Taj Mahal casino was charged under anti-money laundering regulations 106 times in 1990 and 1991 by failing to identify gamblers who bought or cashed out more than $10,000 in chips.