By Chris Sommerfeldt / New York Daily News
NEW YORK — President Donald Trump’s name has for the first time been discovered in the Panama Papers, the massive trove of leaked documents detailing the ways in which the world’s richest people hide their business dealings from scrutiny and taxation.
The discovery, first flagged by investigative reporter Jake Bernstein on Friday afternoon, involves the purchase and subsequent sale of a condo at the newly constructed Trump Palace on the Upper East Side in the early 1990s.
The deal involved a mysterious Panamanian company called Process Consultants, Inc., which bought a 16th floor condo at the Trump skyscraper in 1991.
Process Consultants was owned through so-called bearer shares, which can be used to transfer assets with complete anonymity. Such shares are popular among money launderers.
Three years after the purchase, Process Consultants put the Trump Palace unit up for sale, with the Trump Corporation as