The Committee on Foreign Investment in the United States is reviewing the purchases of land by Flannery Associates, a limited liability company registered in Delaware whose owners are publicly unknown.1
The company, who paid about $800 million for land purchased since 2018, is accusing a group of California landowners of conspiring to inflate the price of their land by hundreds of millions of dollars.2
Last month, the Wall Street Journal reported that government officials remained unaware of the owners’ identities.3
An investigation by the U.S. Air Force is ongoing.
I find it hard to believe we 'invented' shell corporations, even if they weren't called that. Esp considering how many jurisdictions catering to shell corporations and their ilk are British aligned.
I'm somewhat aware of how corporation work. I was poking a bit of fun at someone thought the US exclusively came up with the concept of a shell corp. Clearly, I didn't take into account there would be a condescending and tone deaf user who didn't have a more constructive or insightful response than "duh, just google it, newb".
>A lawyer who represents the Flannery group told the Journal that 97% of the investors are American, with British and Irish investors making up the other 3%, but that information has not been independently verified
It’s likely, but they would have of be idiots to think that buying up massive tracts of land saddled up to an active Air Force base would not raise alarms.
Expanding Air Force bases on the West Coast nets us little in a conflict with China.
Building bigger bases in Japan, Taiwan, South Korea and similar adjacent countries is a much better way to posture ourselves for any future scuffles with China.
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[ 2.7 ms ] story [ 42.9 ms ] threadThe company, who paid about $800 million for land purchased since 2018, is accusing a group of California landowners of conspiring to inflate the price of their land by hundreds of millions of dollars.2
Last month, the Wall Street Journal reported that government officials remained unaware of the owners’ identities.3
An investigation by the U.S. Air Force is ongoing.
1 https://www.sfgate.com/bayarea/article/someone-bought-52000-...
2 https://www.reuters.com/legal/litigation/some-california-lan...
3 https://www.wsj.com/articles/investors-bought-nearly-1-billi...
It's feature not bug ?
If you find it hard to believe, you can look into it and draw your own conclusions.
Building bigger bases in Japan, Taiwan, South Korea and similar adjacent countries is a much better way to posture ourselves for any future scuffles with China.