5 ms·
Maybe revenue laundering using borrowed credit? I wouldn't be surprised if some day we discover that many corporations the tech space have been engaged in some
by applepple 5y ago
Maybe revenue laundering using borrowed credit? I wouldn't be surprised if some day we discover that many corporations the tech space have been engaged in some kind of global credit laundering scheme using shell companies as a filter to systematically separate credit from debt in order to generate artificial revenue for big tech corporations... Money extracted straight from the big banks.
They should refer to this scheme as a 'Clam farming' because they just load up the shell companies with bank loans then extract the meat and toss away the shell.
- KirillPanov 5y agoWhat kind of bank makes business loans without encumbering any collateral?
- applepple 5y agoWhy not just create intangible collateral out of thin air? E.g. crypto? Then you just use some of the credit to pump up the value of the collateral to meet the bank's expectation.
- KirillPanov 5y agoThat's called fraud. You would need to find an especially stupid bank. You can certainly do that, but if you're wiling to commit crimes there are much easier ways to make money.
- deleted 5y ago[deleted]