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> money laundering (buy something liquid for X -- even if you overpay and end up selling at a "loss", what you get out has been laundered). You're missing a st
by djrogers 9y ago
> money laundering (buy something liquid for X -- even if you overpay and end up selling at a "loss", what you get out has been laundered).
You're missing a step in the money laundering here - you can't use completely unlaundered cash to anonymously buy investment property, you have to launder somehow first.
- deleted 9y ago[deleted]
- currymj 9y agoyou’d be surprised. in the past at least there’s been far less oversight of real estate transactions than other types.
- pjc50 9y agoUsually this involves a set of corporate shells with opaque ownership; there may not even be a registered transfer of the property, just in shares of Mystery Holdings Corp #237 (British Virgin Islands).
- lossolo 9y agoBut this has nothing to do with money laundering. If money gets into international banking system it's probably laundered already. Money laundering dosen't work like you think it is - "shady offshore companies" is not enough to launder money because every one of this jurisdictions will work with law enforcement in case of money laundering. Then just follow the money and you will get busted. Shell companies will just make whole process longer for law enforcement agencies. Real estates in rich jurisdictions are used for stashing/anonymously investing money, not laundering money.
- jonknee 9y agoOr just find a shady real estate developer. Maybe one who has a famous name and had a reality TV show. A real greedy and corrupt type who doesn't ask a lot of questions or do much (or any) due diligence.