How to hide $400 million

Life-long scammers by the sounds of it. Sympathy level: 0.

Yeah it's funny in a black humour way that they started off with a credit card scam but now she wants the law to close or negate loopholes.

I assume once you get into the megabucks league the foreign bank dodges surface. I could put my wealth into toonies and hide the sack under my mattress without feeling the lump.
 
There was a case here a few years back where someone had defrauded the Feds out of 10 million. It was proven but they couldn't find the money so they offered the culprit a sentence reduction if he gave up the money. Something like 3 years instead of 6.

Question: How long would you spend in jail if you could end up keeping the 10 million?

To me the guy should have gone to jail immediately but the release date would be set when he coughed up the money.
 
I'm about halfway through that part of it ... Crazy.

Whew ... Complicated. Still not through it ...

Lol. Ya. Crazy... and super detailed. Major kudos to the journalist; super impressive research and thoroughness that you rarely see anymore.

I'm interested now even more to see what you think.

To me the guy should have gone to jail immediately but the release date would be set when he coughed up the money.

Why even go to jail? $20 million in this story...
https://www.thestar.com/news/invest...on-lives-in-french-chateau-bahamas-villa.html
 
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I just got through it.

The gist of it is that someone sets up a corporation in an offshore tax-advantaged area and that corporation owns their assets, and whatever income they earn here which would be subject to tax, they have the offshore corporation provide "services rendered" and they send their income (here) to the offshore corporation as "payment".

This goes right to the top; the article mentions how somehow an enormous percentage of Apple's worldwide earnings are somehow incurred by what would otherwise be their insignificant office in Ireland despite much of the costs (research and development, etc) being incurred in the USA. Who pays for this? You and I, of course. People who aren't rich and/or smart enough to be able to do stuff like this. That scumbag who was the subject of this article, was spending more every month on lawyers than the average person's total net worth.

I know one or two things about mechanical gadgets and contraptions but this sort of international monetary tax scamming strategies are beyond my comprehension. My little pile of loonies (that which I didn't spend on bikes) is all sitting in Canadian accounts, completely exposed to me having to pay income tax on it.
 
I just got through it.

The gist of it is that someone sets up a corporation in an offshore tax-advantaged area and that corporation owns their assets, and whatever income they earn here which would be subject to tax, they have the offshore corporation provide "services rendered" and they send their income (here) to the offshore corporation as "payment".

This goes right to the top; the article mentions how somehow an enormous percentage of Apple's worldwide earnings are somehow incurred by what would otherwise be their insignificant office in Ireland despite much of the costs (research and development, etc) being incurred in the USA. Who pays for this? You and I, of course. People who aren't rich and/or smart enough to be able to do stuff like this. That scumbag who was the subject of this article, was spending more every month on lawyers than the average person's total net worth.

I know one or two things about mechanical gadgets and contraptions but this sort of international monetary tax scamming strategies are beyond my comprehension. My little pile of loonies (that which I didn't spend on bikes) is all sitting in Canadian accounts, completely exposed to me having to pay income tax on it.

Ya, crazy. And noted as an unprecedented reveal of the details of this gaming-of-the-system, by the rich.
 
He's brought attention and scrutiny to a system that protects people with a LOT more money than him. I'd speculate he gets an ice pick to the temple when one of his yachts is in international waters.
 
Governments could put an end to it, but a lot of politicians and party funds benefit from contributions and close ties with those people. In that case, you have a couple of nouveau internet-rich scammers who turned on each other and it revealed a system we all know exists and lives off itself. These rich people don't get rich by being honest.
 
I don't know if this thread actually needs a virtue signal but damn these internet scammers deserve any misery they get. Like the b1TcH didn't know what her husband was up to. She's clearly a whore to the core and from the word go.
 
I don't know if this thread actually needs a virtue signal but damn these internet scammers deserve any misery they get. Like the b1TcH didn't know what her husband was up to. She's clearly a whore to the core and from the word go.
Lol, strong words there, mate
 
I don't know if this thread actually needs a virtue signal but damn these internet scammers deserve any misery they get. Like the b1TcH didn't know what her husband was up to. She's clearly a whore to the core and from the word go.

she doesn't care that her husband ripped people off...she's only concerned that he tried to rip HER off! Self serving and nothing else.

government has no interest in stopping this....too many of them are in on it or getting $ from tuning a blind eye. Wish I was smart enough to have these problems or earning that type of cash in a legit way....that's possible right!?
 
I'm sure the governments would love to get their hands on tax revenue that is currently escaping them. Trump has made noise about it. The EC has gone after Ireland about it.
 
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