Articles written by Frank Knapp

Frank Knapp|Mar 16, 2016

The threat from the misuse of anonymous shell companies is real, and routine. Criminals use them to scam consumers, defraud the government, and launder money. They also use them to cheat small businesses. For example, from 2004 to 2012 a large Virginia-based security firm used a shell company to fraudulently obtain $31 million in federal contracts – contracts that should have gone to minority-owned small businesses under the SBA’s section 8(a) set-aside program. In a second case, a Maryland woman used multiple shell companies to win con...