Stonewalled by the Trump administration, Congress seems to have lost interest.
When Donald Trump assumed the presidency in 2017, two of his foreign projects — one in Panama and one in Azerbaijan — stood out for what appeared to be clear links to foreign money laundering operations. But with Trump’s presidency enveloped in an unprecedented number of scandals, congressional willingness to investigate the properties appears to have wilted — in no small part because of stonewalling by the current administration.
Both properties were closely associated with Ivanka Trump. Trump described the Trump Ocean Club property in Panama City, Panama, as Ivanka’s “baby,” while the Trump Tower Baku project, located in Azerbaijan’s capital, was something Ivanka herself claimed she “oversaw.” Both endeavors, however, have been swamped in controversy — not simply because of signs pointing to money laundering operations, but because both projects have since imploded, with neither any longer carrying Trump’s name.
In Panama, for instance, the indicators of money laundering at Trump Ocean Club Panama, which the Trump Organization helped manage, were impossible to miss. From purchases in cash to bulk sales, from sales to anonymous shell companies to purchasers using “bearer shares” — in which the company is owned by whoever holds a physical stock certificate, without any registry keeping track of ownership — the signs were all there. One of the property’s primary sales brokers, Alexandre Ventura Nogueira, admitted in a 2013 conversation secretly taped by a former business partner that he was “regularly laundering money” across Panama.
View the complete April 11 article by Casey Michel on the ThinkProgress website here.