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You can repeatedly use the same asset to launder money. And an appreciating asset like housing is ideal as the laundering costs can be covered and even exceeded
by wahern 7y ago
You can repeatedly use the same asset to launder money. And an appreciating asset like housing is ideal as the laundering costs can be covered and even exceeded by appreciation. Probably don't want to do it too often for any particular property if you're worried about getting caught, though.
- Tiktaalik 7y agoYeah one of the reports had some data that pointed to this being a major thing. There was a house that had 20 mortgages on it. Take out a home equity loan, pay it off with shady drug cash, then do it again, etc.