As for law enforcement being able to penetrate Michael's real controlling interest in the hotels and casinos, I suspect they could not do so in a way would have been admissible in court.
Didn't have to be admissible in court. The Gaming Commission could put people in the "Black Book" if they didn't like the way they parted their hair. And remember, Michael had to bribe Geary to get Klingman's share of the Tropigala--and Geary knew all about Michael's other holdings ("You own or control three hotels...") no matter whose name was on the licenses.
