🚨Trump LOSES IT and HE DELETES KEY EVIDENCE!!!

So, Donald Trump's so-called financial. crimes enforcement network within the. Treasury Department is now deleting en. masse potential evidence of financial. crimes for their enforcement. Probably. shouldn't shock you when we talk about. the corruption of the Trump regime. This. is happening in plain view though, and. it needs to get more attention. And the. Treasury Department, they're just trying. to play this off as just bureaucratic.

rule-making. No, you're deleting. evidence of crimes, and you're going to. literally promote money laundering in my. opinion what's taking place. The. Financial Crimes Enforcement Network. like promoting money laundering. Let me. show you what went down. The Treasury. Department yesterday posted today FinCEN. news. That's the financial crimes issued. a final rule that permanently removes. the requirement for US companies and US. persons to report beneficial ownership.

information. FinCEN today also announced. that it will delete previously reported. information by US persons from the. beneficial ownership information. database. Like quite literally, this. isn't public information. Why in the. hell would the Financial Crimes. Enforcement Network literally delete the. evidence of financial crimes. potentially? Former Congressman Tom. Malinowski posted the following. I. helped pass this law in 2020. Its. purpose is to prevent drug traffickers,

Russian and Chinese kleptocrats, and. other international criminals from. setting up anonymously owned companies. to hide their money in the US. Trump's. Treasury Department is doing this to. help criminals. So, a congressman who. helped pass this law is saying, "What. the hell? They're doing this to help the. criminals now?" He explains that. beneficial ownership information is just. a record of who actually owns a company. That's all that was being reported here, so that we didn't have LLCs, limited.

liability companies in Delaware. laundering millions of dollars through. the US and into offshore banks on behalf. of totally anonymous people. Treasury. deleting the beneficial ownership info. it already gathered is utterly crazy. This database was not public. It was. just for law enforcement to use in. investigating crimes. It's like Trump. ordering the deletion of the FBI's. fingerprint database. And hold the.

thought there. For all we know, they may. be doing that, too. Who the hell knows. with these people? Why is the Trump. administration, Tom Malinowski says, doing this? I don't know, but it's. certainly good news for rich Russians. who want to buy his condos or Gulf. royals buying his fake crypto. The true. identities of people he's done business. with, if registered with Treasury, will. now be deleted. Last but not least, this. is totally illegal. Congress passed, you. know, a thing called a law with strong.

Republican support, by the way. This was. a massive bipartisan initiative because. at that time people were like, "Hey, we. don't want money laundering." Saying. Treasury had to collect and keep. beneficial ownership info not a should. not be a controversial thing. The Trump administration cannot just. say, "We're just not going to do it. anymore." And as Malinowski says, "This. will find its way to court. It will be. struck down because what the Treasury. Department is doing right now is.

unlawful, but the deletion of data. currently available to law enforcement. may be irreversible. It's one of the. most lawless and corrupt things this. administration has done, and that is. saying a lot." Congressman Sean Casten. said, "We passed this law, and make no. mistake, it's a law, not just an option. for the Treasury Department to interpret. to ensure people wouldn't hide their. identities in nests of LLCs to launder. money. Treasury is protecting criminals.

with this action. Richard Nephew says. the process for my LLC took all of 5. minutes to complete. If you've got. nothing to hide, it's no big deal. And. Philip O'Brien says the US is run by. organized crime syndicates right now. That's destroying the evidence of their. crimes. I want to bring in Tom. Malinowski, the former Congressman from. New Jersey, who helped pass this law. back in 2020, whose message that you. saw. And Tom, this is not nearly getting.

the attention it deserves. This is a. very big deal in plain view deleting. evidence en masse of financial crimes. Talk to us about it, Tom. >> So, thank you, Rachel. Be on with you. And as you explained, beneficial. ownership is just a fancy word for who. is the real owner of a company. Um and amazingly, you know, we we used. to think that. um people would use, you know, crooks.

around the world would use Swiss bank. accounts to hide their tracks or or. they'd go to some little um island state. in the Caribbean like the Cayman Islands. or the Seychelles in the Indian Ocean. These These were the places that crooks. would go to. um to hide their tracks, but um we we. discovered in the last decade that. actually the United States is a key node. in the international money laundering. network because a lot of our states, particularly but not only Delaware,

allowed anybody in the world to register. a company, to establish a company under. an anonymous name. It's called a shell. company. So, well, let's say, just for. the sake of argument, or like a Russian. oligarch, And you want to buy a condo in Florida. from a guy named Donald Trump, but you. don't want people to know, or he doesn't. want people to know that Russian. oligarchs are buying his condos. So, you. find a lawyer in Miami or or New York.

He sets up a shell company for you, registers it in Delaware under maybe his. own name or a fake name. And then, you. know, for good measure, that company. creates 20 other companies under the. same umbrella. And one of those. companies. then sets up a bank account maybe in the. Cayman Islands. And then that entity buys the condo. And nobody knows. The IRS doesn't know. Law enforcement doesn't know. It just.

shows up as. the owner of the condo is like 123. Corporation of America or something like. that. That happened um routinely until this. law passed. This law basically just says. every company registered in the United. States has to report its true owner to. the Treasury Department. And that database is there, so that if. the Justice Department is investigating. some kind of crime, corruption, money. laundering, terrorism, drug trafficking,

child trafficking, sanctions evasion, it can look up and it finds some. mysterious LLC involved in that shady. business, he can look that LLC up in the. registry and trace it back to the person. who really owns it. So, that's what this law was doing. And as you said, they're basically. they're not they're not trying to fiddle. with how it's implemented. They just. said today, "We are canceling the law. We are not. going to enforce it. It's over. And all.

the data we've gathered is going to be. somehow erased, completely completely. lawless behavior.". >> Was the law working in the sense of you. mentioned the example where they still. needed to find somebody in the states. whether it was a Miami lawyer or someone. to help set it up. How were we kind of dealing with the. situation where a lawyer or someone in. the United States would serve as like a.

straw man or whatever it was and would. that happen where the LLC would. designate that lawyer but I guess they. still had to put a name which then you. could trace and you could investigate. So talk to us about. >> If you're some foreign crook and you you. want to set up a company in the United. States and under this law you can still. do it, right? But your lawyer. and we're assuming here most lawyers. don't want to be criminals themselves. Um your lawyer's now going to tell you. you got to you you. you can set up a company call it. whatever you want but you also have to.

fill out this other form. And on this other form. which doesn't go to some public website. but it's submitted to the Treasury. Department you have to put your real. name. And the expectation was. that the people who are taking advantage. of this system were just going to go. elsewhere. Um. because now it's no longer easy and safe. or at least as easy or safe as it used. to be to set up an anonymous shell. company in the United States. So if. you're doing it to hide some sort of.

criminal activity or to escape sanctions. or to avoid paying taxes. then. it's you're taking a big risk now if if. you try to create a a US based company. to do these things. >> I've been on a mission to find snacks. that actually satisfy my sweet tooth. without leaving me reaching for. something else an hour later and well. Magic Spoon absolutely nailed it. You. know I love the Magic Spoon cereals well. their new Magic Spoon treats taste like. a real dessert moment but they're packed.

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for $5 off. That's m e i d a s. >> So, the beneficial ownership form though. was just sent to the Treasury. Department, where they would keep a. database, and then they would have their. financial crimes enforcement network, FinCEN, would compile this. They would. have the ability to reach out to the. appropriate authorities, whether it was. the FBI, whether it was, you know, other. you know, whatever who whoever's the. appropriate authority to look into this.

It wasn't like the grant. >> So, like if the FBI's investigating a. crime, let's say you're investigating some. complex financial crime. And in the course of your investigation, you find some mysterious company with a. weird name. that is. doing the dirty business. It's It's It. It owns the bank account that has funded. the child trafficking operations, just. to name one possible example.

The FBI now can go to FinCEN, can go to. the Treasury Department, and say, "Hey, can we look up this entity?". And find out who's actually behind it. Um. and then. Treasury would share that with law. enforcement. So, that's the way um it. was set up to work. Uh we passed the law. in 20. I'm sorry, in 2021. And it took a couple of years for the. the Treasury Department to issue the. rule to start implementing it. I think.

it wasn't until the beginning of 2024. It's been on the books now for a couple. of years. And um as of today, they're saying. no one has to file this information. anymore. >> And this is just I'm trying to even go. through my mind about what other than. covering up the idea of an oligarch or. someone who wants to keep it um you. know, utterly secret, or someone who's. laundering money, or who's trafficking, or I'm trying to think of, you know, any.

other example why, you know, what what. why that would be like I'm just trying. to who who's the constituency over here. that is be is is benefiting from that. group. I'm I'm trying to think. objectively. >> one there's one legitimate thing. So, it. it in in order to enforce this law, now. every. everybody registering a company or LLC. in the United States has to file this. information. And I I think for most. people it's very easy. You can find the. the form online. You can submit it.

online. It asks for name and address, um. your tax ID. It asks you to upload a. picture of your driver's license. And of. course, the name and address of the. person who owns the company. That's. straightforward for most businesses. But, um you know, in the implementation. um small business owners started. complaining um that they're now having. to pay some lawyer a couple of hundred. bucks to fill out this form for them. And there were some weird examples like. um I've heard from people who who said.

like, "You know, I'm I'm um a a. volunteer board member of my local co-op. association, and we were told we have to file this. form, and we have to pay somebody to fill it. out for us. And like I'm sure there are real. problems out there in terms of this. being a burden on some people that we. did not intend it to be a burden on, but. if that's your concern, you fix that. through a new rule that exempts those.

kinds of people or that makes it even. easier for them. Fine. You do not cancel implementation of the. entire law. So, but I do want to be fair, there are. some legitimate concerns that. constituents of members of Congress have. been raising with their members. It's. just that those things could have been. easily fixed without sending a "America. is welcome uh welcomes now dirty money.

from the worst criminals in the world". message. that the Trump administration sent. today. >> And we're going to now delete the entire. database and get rid of this accumulated. now and that's what I appreciate about. discussions like this and what we try to. do here which I again is this was a. bipartisan bill. I don't view this as a. Democrat, a Republican, an independent. thing. I mean, there was a problem, a. serious one. Trafficking, drug. trafficking, sex trafficking, uh money.

laundering in general, drug traffic, all. this stuff that was happening. It was. being determined. Sure, there's Cayman. Islands, all these but a lot of it's. happening here. Here's how we try to fix. it. Oh, wait, there does seem to be a. certain groups of people who may be. having to be burdened a few hundred. bucks, maybe a little more. That wasn't. intended. Let's fix it. Let's make it. better. That's the way the system like. in a normal functioning democracy, Tom. These are the discussions that we have. When you were in Congress, you probably. said, "Well, this is what we would. debate. Maybe we do it this way is the.

best. Maybe it's that way." But we all. want to stop trafficking, so let's. figure out how we do it. Here, they do. this crap, and then they start just. saying, "Ah, WNBA players woke." And. it's like, "What what are you even. talking about? We're We're trying to. solve a problem. Stop dividing us about. weird Let's try to figure out what. the what the what the answer is to this. problem. >> Well, give you an example. One of my. co-sponsors was then Congressman Mike. Waltz, who is now Trump's ambassador to. the UN. And like at the time, he's a.

conservative Republican who. was really focused on protecting. American national security from all. kinds of threats around the world. He. saw it as a national security bill. And. um so that brings us back to the. question like, why do they do it? It It. the the the excuse will be we did it to. help these mom-and-pop trusts and small. business owners. I don't buy that because whatever. problems they were having, we we could. have fixed. So I think you got to see it. in a bigger context. Um remember the the.

IRS nail under Trump is is scaling back. um audits of millionaires and. billionaires and and of corporations. They're the fire They fired the people. that we hired under the Biden. administration to ensure that the. wealthy got audited as much as um. working class Americans. Um the. administration has publicly. [clears throat] announced they're no. longer going to enforce a law called the. Foreign Corrupt Practices Act, which is. a law that says that US companies can't.

bribe foreign governments around the. world. Um white-collar crime division at. the Justice Department has been. um absolutely gutted. So across the. board, um and I guess maybe it has something to. do with the fact that the president of. the United States is himself a. white-collar criminal. Across the board, they are just refusing to enforce laws. targeting white-collar crime, crime by. wealthy Americans, corruption by members.

of their own class. And it's it's so blatant that it's. almost hard to believe because they're. not even really trying to hide it, but. this is another step in that direction, I'm afraid. >> Tom, I want to thank you for joining us. First time on the Midas Touch Network. We got so much we should be talking. about. I mean, you were the Assistant. Secretary of State. You know, I like to go do deep dives into the. Middle East, your experience in Bahrain. and other areas there, especially with.

the Mecca pact, the security umbrella. that's replacing the I'm just I'm sure. you have a lot of thoughts on everything. that's going on. We'll save all of that. for the next interview, but we. appreciate you. >> Good. And we'll fix this, too, eventually, you know, it's it's just. another. item on the to-do list for. next year when hopefully we have. Democratic majorities in the House and. Senate, certainly in 2029. >> Everybody hit subscribe. Let's get to 7. million. Thanks for watching. Before you. go, our book WTF America is available.

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