Clintons omit shell company from public financial files (edited)
The newly released financial files on Bill and Hillary Rodham Clinton’s growing fortune omit a company with no apparent employees or assets that the former president has legally used to provide consulting and other services, but which demonstrates the complexity of the family’s finances.
Because the company, WJC, LLC, has no financial assets, Hillary Clinton’s campaign was not obligated to report its existence in her recent financial disclosure report, officials with Bill Clinton’s private office and the Clinton campaign said. They were responding to questions by The Associated Press, which reviewed corporate documents.
The officials, who spoke on condition of anonymity because they were not authorized to provide private details of the former president’s finances on the record, said the entity was a “pass-through” company designed to channel payments to the former president.
Under federal ethics disclosure rules, declared candidates do not have to report assets worth less than $1,000. But the company’s existence demonstrates the complexity of tracking the Clintons’ finances as Hillary Clinton ramps up her presidential bid.
more: http://nypost.com/2015/05/26/clintons-omit-shell-company-from-public-financial-files/
on edit: To add my personal thoughts: I don't care what kind of excuse these lawyers and financial types try to give, it is all spin to me. Once I hear of "pass-through" company, it equates to "money laundering" in my mind (and probably in reality as well, though whether or not the legalese is in order I wouldn't know)
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