Shell Company Abuse Act

This bill makes it a federal crime to set up or use a company to hide money or donations from foreign nationals in U.S. elections. It targets people who create “shell” companies or use existing ones to cover up illegal foreign election giving. Breaking this law can lead to fines, prison time up to 5 years, or both.

Key points:

• Who is affected: Company owners, officers, attorneys, and incorporation agents who create or use a company to hide foreign election money.
• What changes: It adds a clear federal crime for using a company to conceal banned foreign contributions or donations in U.S. elections.
• Penalties: Up to 5 years in prison, fines, or both.