4 ms·
I don't mean to be presumptuous but this article does a lot of talking about how great UBO registers are at stopping crimes but nearly all of the alleged crimes
by from 4y ago
I don't mean to be presumptuous but this article does a lot of talking about how great UBO registers are at stopping crimes but nearly all of the alleged crimes mentioned in the article have victims that aren't even near the country the UBO register in. As far as I can tell the tax fraud investigation into Gabriele Volpi hasn't gone anywhere since 2018 (and it's not clear at all if UBO registers even aided that investigation). Is there any reason America or Europe shouldn't take Chinese or Russian capital flight money? It deprives your enemies of tax revenue and is good for local real estate. And foreigners can't make political donations.
I just don't understand this new emphasis starting with the FCPA but recently being used as the justification for all kinds of new laws on crimes which in the typical case amount to some third world government employee taking a few million dollars in bribes. How about complaining about carousel fraud? Or the extortion problem in Southern Italy? Or Medicare fraud? It's like local crimes aren't cool enough so they invent new ones.
- avmich 4y ago> Is there any reason America or Europe shouldn't take Chinese or Russian capital flight money? Sure, it's maintaining the rule of law and human rights. I'm sure we don't need to question how profitable that is?
- from 4y agoI suppose we may disagree on the idea that America or Germany or the UK has an obligation to help China maintain the rule of law.
- germinalphrase 4y agoPerhaps, less ‘obligation’ and more ‘interest’.
- from 4y agoHow about this: Why are we spending man hours investigating and [returning](https://www.justice.gov/opa/pr/united-states-repatriates-over-20-million-assets-stolen-former-nigerian-dictator https://www.justice.gov/opa/pr/united-states-repatriates-ove...) millions of dollars to Nigeria when they have done almost nothing to stop the massive amount of romance and BEC scams coming from their country? Why are we [fining](https://www.justice.gov/opa/pr/utstarcom-inc-agrees-pay-15-million-penalty-acts-foreign-bribery-china https://www.justice.gov/opa/pr/utstarcom-inc-agrees-pay-15-m...) [companies](https://www.justice.gov/opa/pr/ericsson-agrees-pay-over-1-billion-resolve-fcpa-case https://www.justice.gov/opa/pr/ericsson-agrees-pay-over-1-bi...) for bribery in China when they pirate American software, steal American intellectual property and turn a blind eye to "research chemical" companies exporting tons of fentanyl? What I am saying is that instead of paying the third world's law enforcement bill for them we should try to stop getting ripped off first.
- germinalphrase 4y agoIt’s good for real estate if you believe real estate should have higher prices.