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Fox News host Sean Hannity took out $2.5 million in loans on his Long Island mansion last year

EnigmaO01 said:
No, a shell corp means you are hiding something. It's used by a lot of unscrupulous people. It's not the same thing as a limited liability corporation.

And I run two businesses and studied business at one of the top business colleges. Stop insulting my intelligence.
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Every article I've read says Hannity used LLCs and described them as "shell corps". If they weren't LLCs, what were they?
 
EnigmaO01 said:
No, a shell corp means you are hiding something. It's used by a lot of unscrupulous people. It's not the same thing as a limited liability corporation.

And I run two businesses and studied business at one of the top business colleges. Stop insulting my intelligence.
Click to expand...

Not necessarily;

*Shell companies do have legitimate business purposes. They may, for example, act as trustee for a trust, and not engage in any other activity on its own account. This structure creates limited liability for the trustee. A corporate shell can also be formed around a partnership to create limited liability for the partners, and other business ventures, or to immunize one part of a business from the risks of another part. Shell companies can be used to transfer assets from one company into a new one, while leaving the liabilities in the former company.*

https://en.m.wikipedia.org/wiki/Shell_corporation
 
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