Comments on: It’s time to eliminate anonymous shell companies Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: dwilliams3 Wed, 10 Oct 2012 17:35:08 +0000 It is devoutly to be hoped that Mr. Vance’s suggestions are acted upon — and soon!

By: gordo53 Wed, 10 Oct 2012 16:58:14 +0000 There is a criminal element utilizing shell corporations that Mr. Vance failed to mention. It is our two major political parties. Why do they need shell corporations you might ask. For the same reasons all criminals do. To preserve anonimity, launder illicit money and in the case of political donors, provide a tax right off for a contribution that is, by law, not tax deductible. More political money flows through a variety of nefarious contrivances than what is reported to the federal election commission. Unfortunately, just eliminating anonymous corporations won’t deter politicians from continuing to use front companies for illegal activities. This is a very serious issue that speaks volumes about the abject corruption that is our political system.

By: UpwithUS Wed, 10 Oct 2012 15:11:42 +0000 Thank you Cyrus R Vance Jr.!

By: AdamSmith Wed, 10 Oct 2012 03:52:52 +0000 My hat is off to Cyrus R. Vance Jr. for having the courage to write this.

The stakes are huge. The entire organized criminal class hide their large-scale continuing operations with anonymous shell companies.

The stakes are not millions of dollars, but rather trillions of dollars.

And it’s not just American organized crime. It’s large criminal organizations from Italy, Russia, China, the Philippines — you name it.

These international organized crime families shelter much of their wealth in American real estate. To do it they easily use layer upon layer of anonymous shell companies — either corporations or limited liability companies (LLCs).

But American law firms of even the largest size cater to anybody and everybody that has money. So you can be sure, Mr. Vance, that any law requiring transparency of these anonymous companies will be fought tooth and nail by law firms.

And, of course, it must be remembered that most members of congress are lawyers, and they can and do accept contributions from people acting through shell companies.

Excellent article.