Letter: Tighten LLC screenings

The News Journal · June 14, 2017 · Letter to the Editor · Nick Waslieski

The Delaware Coalition for Open Government (DelCOG) is urging members of the House Judiciary Committee to support House Bill 57, sponsored by Rep. John Kowalko, Rep. Kim Williams, and Sen Bruce Ennis. If signed into law by the governor, HB 57 will require all resident agents to screen applicants that form limited liability companies against sanctions lists maintained by the Office of Foreign Assets Control (OFAC).

DelCOG has been researching online sources and found at least two Delaware LLCs on the OFAC sanctions list, 200G PSA Holdings, LLC and Agusta Grand I, LLC which Federal authorities listed as Narcotics Trafficking Kingpins.

After being informed by DelCOG of 200G PSA Holdings, LLC’s inclusion on the OFAC sanctions list, the Delaware Department of State removed them from the approved list of LLC’S.

OFAC is an agency of the U.S. Department of the Treasury that administers and enforces economic sanctions programs primarily against countries and groups of individuals, such as terrorists and narcotics traffickers.

According to the Delaware State Department website, more than one million business entities take advantage of Delaware’s package of incorporation services.

Nick Wasileski
President, Delaware Coalition for Open Government

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