Inside a drab one-story office building in Post Falls, Idaho, a little-known American company has built the machinery that enables hundreds of thousands of businesses to operate in near-total secrecy.
The company, Registered Agents Inc., is a one-stop shop for people seeking to incorporate a business in any US state, often in those with advantageous tax policies, while obscuring their identities. According to five former employees of Registered Agents Inc. or its subsidiaries, the company routinely incorporates thousands of businesses on behalf of its customers using fake personas. Former Registered Agents Inc. employees say that the company’s widespread use of personas is an outgrowth of its founder’s obsession with privacy and a desire to push the boundaries of incorporation laws.
The registered agent industry, which incorporates businesses and acts as a point of contact for legal notices, is already effective at masking the identity of who owns a company. Registered agents have many legitimate uses, and states often require that a company have a registered agent. In some instances, however, these services have benefited “oligarchs, criminals, and online scammers,” according to a 2022 investigation by The Washington Post and the International Consortium of Investigative Journalists. Experts say a lack of adequate federal and state regulations of registered agents helps to make the United States a hotbed for money-laundering and other shady business dealings.
In a typical scenario, a registered agent would incorporate a company on behalf of a customer. An employee of the registered agent company would list their name on the incorporation documents, sometimes providing the company’s email address and office as contact information. That process provides business owners one layer of secrecy, preventing anyone who looks at state records from determining the real owner of a company.
Registered Agents Inc., according to the former employees, routinely goes one step further, incorporating companies in the names of fictional personas created by the company’s founder, Dan Keen. It’s unclear what benefit Registered Agents Inc. or its customers receive when a company is incorporated by a fake identity.
Around the country, at least 1,463 companies incorporated by Registered Agents Inc. list a woman named Riley Park as an organizer or agent, according to a WIRED analysis of publicly available incorporation documents. But Riley Park isn’t a real person, the former employees say. She’s one of multiple fake personas used by Registered Agents Inc. Former employees identified at least 10 fake personas used by the company, including David Roberts, Drake Forester, and Morgan Noble.
Using business records made public by OpenCorporates, a website that shares and standardizes information sourced from business registries around the world, WIRED found 36,257 business listing company officers who share names that former employees say are fake. At least 3,735 of these businesses’ incorporation paperwork references Registered Agents Inc., either explicitly in the paperwork or by using an address known to former employees as belonging to Registered Agents Inc.
WIRED’s analysis found that these companies are registered in 20 different states and appear to provide services ranging from law enforcement training to landscaping. Many of these companies with officers using an alleged fake name were registered to addresses known by sources to belong to Registered Agents Inc. For example, six allegedly fake names were listed as officers for 887 of businesses registered to the same address in Sheridan, Wyoming—an office of Registered Agents Inc.
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