Black Ridge Acquisition Corp.

The United States continues to serve as a critical hub for money laundering, with an estimated $300 billion laundered annually through its financial system. Shell companies, particularly those registered in states like Delaware, are a pervasive vehicle for obscuring ownership and facilitating illicit financial flows. Despite recent regulatory steps such as the Corporate Transparency Act, the U.S. remains plagued by significant financial opacity, weak anti-money laundering enforcement, and political reluctance to fully address these risks. This environment enables complex shell structures to thrive, undermining global efforts to combat asset concealment, tax evasion, and the laundering of illicit funds through seemingly legitimate corporate entities. Black Ridge Acquisition Corp exemplifies this systemic vulnerability where opaque ownership and muted enforcement create fertile ground for financial crime.

Black Ridge Acquisition Corp operates as a Special Purpose Acquisition Company (SPAC) and has a complex ownership and subsidiary structure that aligns with frequent U.S. shell company characteristics: high operational and ownership opacity, minimal transparency on beneficial owners, and limited regulatory enforcement on anti-money laundering measures. The United States, particularly Delaware, remains a significant global hub for anonymous shell companies due to weak AML regulations and political resistance to full transparency reforms. While Black Ridge Acquisition Corp itself is not publicly documented as a money laundering entity or linked to criminal actions, its structural and jurisdictional features pose high risks for facilitating illicit financial flows, asset concealment, and possible layering of funds through shell companies. The absence of public beneficial ownership registration and lack of robust enforcement make it difficult to confirm or deny direct illicit use, but the contextual evidence points to a vulnerable system exploited for financial opacity and potential asset laundering schemes. This case highlights U.S. regulatory and political complicity in maintaining an environment conducive to shell company abuse despite international pressures for reforms.

Jurisdiction of Registration

United States, Delaware (implied by common shell company practices; exact state Delaware not explicitly confirmed)

Incorporation Date

Not explicitly stated in search results; active since at least 2017 according to business news

Registered Address

C/O Black Ridge Oil & Gas, Inc., 110 North 5th Street, Suite 410, Minneapolis, MN 55403

Directors / Shareholders

Kenneth DeCubellis (Chairman, former CEO), Lyle Berman (significant shareholder), various directors and executive officers disclosed in filings including Mr. Ng and Mr. Pliska

Beneficial Owner(s)

Suspected to include major shareholders such as Lyle Berman; exact beneficial owners obscured with no public disclosure of beneficial ownership, consistent with U.S. shell company opacity

Linked Individuals

No confirmed Politically Exposed Persons or criminals publicly linked; PEP involvement suspected but not confirmed due to lack of ownership transparency typical of U.S. shell companies

Linked Entities

Allied Esports International, Inc. and WPT Enterprises, Inc. are wholly owned subsidiaries post-merger; Primo Vital Limited (subsidiary of Ourgame) linked to shares controlled by a director

Purpose

Suspected vehicle for financial opacity facilitating asset concealment; potentially for laundered funds or investment obscuration via shell structures commonly used in the U.S. to mask beneficial ownership; no direct public evidence of drug money but general risk context of U.S. shell company use in laundering

Red Flags Identified

High opacity of beneficial ownership due to U.S. regulatory environment—no public registry accessible despite Corporate Transparency Act intended to improve this but enforcement weak
Use of Delaware incorporation for anonymity and weak AML enforcement
Complex ownership and share structures including warrants and trusts obscure true control
Political complicity of U.S. in enabling anonymous shell companies without public verifiable beneficial ownership data
Offshore connections not publicly confirmed but suspected given typical shell company layering patterns
Potential luxury asset overvaluation and risk of asset concealment through related entities (though not directly evidenced with this firm)

Estimated Amount Laundered

Not publicly known or confirmed; suspected but no figures available

Involvement in Investigations or Leaks

No explicit mention in Panama Papers or FinCEN Files; however, its business sector (SPACs and acquisitions) and location put it in jurisdiction notorious for financial secrecy exploited by illicit actors

Regulatory Actions / Legal Proceedings

No known regulatory sanctions or criminal proceedings against Black Ridge Acquisition Corp specifically; U.S. enforcement generally weak on shell company transparency

Sources

Black Ridge Acquisition Corp

Country of Incorporation:

United States

Year of Incorporation:

Registered Address:

C/O Black Ridge Oil & Gas, Inc., 110 North 5th Street, Suite 410, Minneapolis, MN 55403

Legal Structure / Entity Type:

Delaware Corporation (Blank Check Company / SPAC)

Linked Real Estate Assets:

Suspected

Linked Corporate Entities:

Allied Esports International, Inc.; WPT Enterprises, Inc.; Primo Vital Limited (subsidiaries)

Known Beneficial Owners:

Major shareholders such as Lyle Berman; exact beneficial owners undisclosed

PEPs Linked:

None confirmed; suspected due to opacity of ownership

Involved in Laundering Schemes?:

Known Bank Accounts or IBANs:

N/A

Law Firm or Agent Used:

Corporation Trust Company (Delaware)

Related Offshore Leak :

N/A

Status of Entity:

Active

Year of Dissolution (if any):

Jurisdiction:

United States, Delaware

AML Network Risk Rating:

🔴 High Risk