Breakdown of How Rich People Use LLCs to Get Around NY Limits without Identifying Themselves

Times Union: “The day before New Yorkers headed to the polls, Gov. Andrew Cuomo’s re-election campaign reported receiving $160,000 in contributions. These filings, known as “24-hour notices,” are required to be submitted to the state Board of Elections for any contribution over $1,000 that’s received in the 14 days preceding a primary or election.

“The largest of the 13 contributions reported on Nov. 3 was $40,000 from Waterfront Property Management LLC, a Brooklyn-based real estate outfit with a phone number and an address. The second-largest contribution was $25,000 from Shared Concepts LLC — but that entity’s origins are a bit less lucid.”

“So let’s recap: The disclosure information required by the Board of Elections is largely worthless in helping us understand who is behind Shared Concepts LLC, which gave the governor $25,000 two weeks ago. And it’s only due to the campaign-finance equivalent of a slip of the tongue that we are able to link Real Source LLC to Aaron’s companies without having to pay the Department of State for hard copies of its documentation.

“Everything I have described above is completely legal.”


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