From WHYY: Petition asks for special counsel to examine LLCs

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Attorney General Matt Denn has been asked to assign a special counsel to examine the state’s LLC law and the lack of disclosures

The Delaware Coalition for Open Government said LLCs are sometimes used to hide money laundering, arms dealing, drug trafficking, and human trafficking activities.

The petition asks for an independent counsel to study LLC laws, identify provisions allowing some to take advantage of them for criminal purposes, and recommend changes.

The Civic League for New Castle County, the League of Women Voters of Delaware, and the Delaware Press Association have also signed on in support of the effort.

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Denn’s office confirmed receiving the petition, but did not consent to an interview.

The state has traditionally defended the lack of disclosure by LLCs needs to be addressed at the federal level. Othewise, the entities will incorporate in other states.

Click here for the story from WHYY.

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