A VC once told me to invest in anything that can be used for *legal* money laundering.
Not to make money from the launderers, but because the launderers will hide activity in businesses, boosting the likelihood of legit businesses hopping on.
Heck of an investment thesis.
Not to make money from the launderers, but because the launderers will hide activity in businesses, boosting the likelihood of legit businesses hopping on.
Heck of an investment thesis.
2/ It turns out the whole gig economy was a great use case.
Renting a room that goes for $100/night in a hotel for $2,000/night on a short-term rental site doesn't set off any red flags, or capital currency controls.
It also isn't subject to laundering regs. 🤣
Renting a room that goes for $100/night in a hotel for $2,000/night on a short-term rental site doesn't set off any red flags, or capital currency controls.
It also isn't subject to laundering regs. 🤣
3/ Also incredible how simple the operations are.
Person A buys a house, and rents it.
Person B gets people to rent from abroad. Don't show up, just pay.
Person A uses the revenue to secure more assets, and expand operations. Brings a new meaning to ghost hotel.
Person A buys a house, and rents it.
Person B gets people to rent from abroad. Don't show up, just pay.
Person A uses the revenue to secure more assets, and expand operations. Brings a new meaning to ghost hotel.
4/ In total, you're looking at 14-18% in fees to launder with a legitimate business front.
Typical laundering fees are 50-80% for really illicit cash.
Big accounting firms do semi-legit for ~20%-30%.
Typical laundering fees are 50-80% for really illicit cash.
Big accounting firms do semi-legit for ~20%-30%.
5/ People are like, art! Galleries charge 50% on avg. It's expensive, and only useful if you think the piece will appreciate.
Advantage of art is it becomes an unofficial currency shuffled tax free as payments in freeports. Limited use.
🧵 ICYMI 👇
Advantage of art is it becomes an unofficial currency shuffled tax free as payments in freeports. Limited use.
🧵 ICYMI 👇
https://twitter.com/StephenPunwasi/status/1313292747219009536?s=20
Anyway. He's *really* good at making money. 😂
6/ Totally unrelated, but it's all fun and games until they come for your democracy, amirite? 
7/ This quote is probably a lot more relevant in this thread than by itself tbh.
https://twitter.com/StephenPunwasi/status/1362462132470603776?s=20
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