4 upvotes, 3 direct replies (showing 3)
I understand how someone could use a cash business like a nail salon to launder money, but could somebody please explain how laundering is done with real estate, where the transactions aren’t cash?
Comment by mike_b_nimble at 16/08/2020 at 14:16 UTC
7 upvotes, 0 direct replies
Here[1] is an article that explains it pretty well. Real Estate and Fine Art are excellent vehicles for money laundering because their value is subjective, often appreciate over time, and they aren't subject to a lot of requirements on reporting suspicious activity.
1: https://www.curbed.com/2018/8/10/17674584/money-laundering-real-estate-paul-manafort-trial
Comment by Ylfjsufrn at 16/08/2020 at 18:03 UTC
2 upvotes, 1 direct replies
Laundering money is not actually too difficult. (Doing it well is) Ex: -you owe me 200k for killing a witness. -i also own a condo worth 100k -i sell the condo to you for 300k
Comment by LlamaPajamas at 16/08/2020 at 14:15 UTC
4 upvotes, 1 direct replies
Possibly via renting? Buy a condo, rent it out (or at least say you’re renting it out) and ask for the rent payments in cash.