Trump SoHo money laundering operation - 77% shell company sales
At Trump SoHo (completed 2010), 77% of sales ($110 million) went to cash-paying shell companies. Property developed by Bayrock Group, whose former finance director Jody Kriss testified it was a “spectacularly corrupt money-laundering and tax evasion” operation. In 2013, Khrapunovs purchased three units for $3.1 million using funds traced to $440 million Kazakhstan bank fraud. Bayrock received “unexplained infusions of cash from accounts in Kazakhstan and Russia.”
Key Actors
Sources (4)
- Trump SoHo: A Shiny Hotel Wrapped In Glass, But Hiding Mysteries (2017-11-07)
- Steppe to Soho: How Millions Linked to Kazakhstan Mega-Fraud Case Ended up in Trump Property (2017-12-19)
- Trump, Russia, and Those Shadowy Sater Deals at Bayrock (2017-06-21)
- Former Mafia-linked figure describes association with Trump (2016-05-17)
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