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This will not end well for Leo. He now has $1.4 billion to manage. Hi jinks and embezzlement will follow. He may be lucky the SCOTUS and Congress and the IRS don’t seem to care about dark money.
Does Seid have any other potential heirs? Undue influence suit?
But yeah, Leo is going to be under even more scrutiny, and for all of his operations. And he’s going to be the target of people who think they could use a piece of that money.
Oh, and people elsewhere have noted that if the acquisition was planned before the shares changed hands, then the transaction is a conspiracy to evade taxes. A month seems like an awfully short time to do a deal like that with a publicly traded company. (I wouldn’t be surprised if the IRS – now that it has a few extra agents – asks the purchasing company about its correspondence. Public companies don’t like to be drawn into criminal conspiracies.)
And as long as we’re discussing tax avoidance scams, the company that bought Tripp is the Cleveland Ohio based Eaton Corporation plc. The Eaton Corporation plc acquired an Irish corporation in 2012 and moved their global corporate offices to Ireland in a classic U.S. tax avoidance “inversion” plan.
Excellent example of how degenerate the 1% are. He gives that kind of money to an organization whose goal is to make life worse for people. Why not find a cure for cancer or a way to store energy from solar,