Cohen Case Exposes Hannity’s $90M Real Estate Empire Hidden by Shell Companies and Funded by Obama’s HUD
Fox News host Sean Hannity was linked to a group of shell companies that have spent at least $90 million on over 870 homes in seven states over the last ten years, The Guardian reports.
Hannity said after it was revealed that he was one of Michael Cohen’s mystery clients that his discussions with the attorney were centered around real estate.
According to public records obtained by The Guardian, Hannity has a real estate empire hidden in shell companies that own hundreds of properties from mansions to low-income rentals.
“Hannity is the hidden owner behind some of the shell companies and his attorney did not dispute that he owns all of them,” The Guardian reports.
Dozens of the properties were bought at a discount in 2013, after banks foreclosed on their previous owners for defaulting on mortgages. Before and after then, Hannity sharply criticised Barack Obama for the US foreclosure rate. In January 2016, Hannity said there were “millions more Americans suffering under this president” partly because of foreclosures.
Hannity, 56, also amassed part of his property collection with support from the US Department for Housing and Urban Development (Hud), a fact he did not disclose when praising Ben Carson, the Hud secretary, on his television show last year…
The real estate holdings linked to Hannity are spread across more than 20 shell companies formed in Georgia. Each of the companies uses a variant of the same name, which combines the initials of Hannity’s children. Public records show the companies have bought up dozens of properties in Alabama, Florida, Georgia, New York, North Carolina, Texas and Vermont…
The Georgia purchases were funded with mortgages for $17.9m that Hannity obtained with help from Hud, which insured the loans under a program created as part of the National Housing Act. The loans, first guaranteed under the Obama administration, were recently increased by $5m with renewed support from Carson’s department.
The report notes that Hannity did not disclose his companies’ reliance on HUD while covering the department and interviewing Secretary Ben Carson.
“I doubt you would find it very surprising that most people prefer to keep their legal and personal financial issues private,” his attorney said. “Mr Hannity is no different.”
Igor Derysh is the Managing Editor of Latest.com. His work has also been featured in The Los Angeles Times, Chicago Tribune, Boston Herald, Baltimore Sun, and AOL News. His work has been criticized in even more publications
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