Shell Company Abuse Act

The "Shell Company Abuse Act" aims to prevent foreign nationals from secretly influencing U.S. elections by prohibiting the use of shell corporations to conceal their prohibited contributions. It amends Chapter 29 of Title 18, United States Code, by adding a new section that criminalizes such actions. Specifically, the bill makes it unlawful for an owner, officer, attorney, or agent of an entity to establish or use it with the intent to hide election contributions or donations from foreign nationals, which are already prohibited under existing law. This measure is designed to close loopholes that allow foreign money to enter U.S. political campaigns covertly. Violators of this new prohibition could face severe penalties, including imprisonment for up to five years, a fine, or both.