Bill Clinton used a ‘pass-through’ company in order to avoid financial disclosure

 With Hillary Clinton running for President her wealth has come under scrutiny ever since she made her now infamous “dead broke” comment. Now we are learning that Bill Clinton set up a “pass-through” company which allegedly was used to funnel money from foreign governments into his pocket and because of the way this company was set up Hillary Clinton was not obligated to disclose this money.

  Here is more:

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.

A limited liability company is a commonly used business structure that provides tax advantages and limited legal protection for the assets of company owners and partners.

The purpose of Bill Clinton’s U.S.-based company was not disclosed in any of the corporate filings in Delaware and New York, but State Department files recently reviewed by the AP show that WJC, LLC surfaced in emails from Bill Clinton’s aides to the department’s ethics officials.

  It does not sound if there was anything illegal about this however it does seem to be ethically challenged if you ask me and I have to wonder what the Clinton’s would be saying if this was done by someone like, oh I don’t know, Mitt Romney…

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