Sean Hannity, Fox News' popular media personality known for his conservative views, is revealed to own large tracts of real estate under the cover of other financial entities. All of these were facilitated by Henssler Financial, a Georgia-based company under the stewardship of William Lako, the company owner who also happens to be Hannity's financial adviser.
Hannity began to invest through Henssler from the 1990s. The last 10 years saw the media personality accumulate a real estate empire estimated to be valued at millions of dollars. He owns properties in multiple US states. The existence of these assets was carefully concealed from public perception behind discreet shell companies. All these companies were registered to the Henssler Financial address. Curiously, the names of all these companies begin with identical letters- SPMK. Romans numerals follow the letters. The SPMK properties are high-end ones. The company owns many rental properties as well. These rental properties are home to hundreds of tenants. The company continues to take new renters.
One company, SPMK II, co-owns Henssler Property Management LLC. The latter manages rental properties under the ownership of multiple SPMK limited liability corporations. Lako finds mention as an investor. The SPMK II company is also the co-owner of Henssler Capital LLC. This is an investment fund which recently began an offering of private securities which raised about $13 million from a total of 65 investors during the January 31 to February 15 time period. All these information was extracted from company disclosures made to Securities and Exchange Commission.
A prominent UK-based media house first linked Hannity to these shell companies. The report revealed that a majority of these properties were purchased after the banks foreclosed in previous owners post the Great Recession. These companies seem to have obtained mortgages which were insured by the US Department of Housing and Urban Development. A few commentators seized upon this fact, ridiculing Hannity, whom they named “Handout Hannity”, for taking advantage of the taxpayer to build wealth while criticizing the then-President Barack Obama's housing policies at that time. Hannity had hidden his relationship with all these companies.
Hannity defended himself saying that he did not directly deal with the HUD when it came to loans for the real estate holdings he owned. The conservative host even claimed that his shell companies are real ones which spend actual money on actual properties.