3 ms·
Money laundering is when you need to turn ill-gotten paper cash into believably legal profit. Can you explain to me the mechanics about how money laundering li
by missedthecue 5y ago
Money laundering is when you need to turn ill-gotten paper cash into believably legal profit.
Can you explain to me the mechanics about how money laundering like this would work?
- irthomasthomas 5y agoYou raise 3 million USD for your ICO, or NFT business. Instead of using money to run the business as advertised, you make a dumb, massively inflated purchase, from a friend, who secretly hands the money back to you. Con complete. Game over. Insert coin to play.
- irthomasthomas 5y agoOr a regular business had a lot of cash on hand, and the CEO wants a chunk of that cash for himself, without doing lots of paperwork. He uses a friend, or a fake account to buy NFTs of some random dudes head. Later he sells them on to his business for a cool mill profit.
- missedthecue 5y agoHow does one buy an NFT with cash?
- missedthecue 5y agoThat's not money laundering.