Some staggering numbers in this new report, on just how open the U.S. private investment/private equity/hedge fund markets are for gargantuan money laundering schemes:
https://twitter.com/SenWhitehouse/status/1466506956441534471
The U.S. private investment market has:
—over $11 trillion dollars in assets
—~13,000 investment advisers
—minimal anti-money laundering regulations
—the "perfect confluence of factors that make it an ideal place to hide and launder the proceeds of corrupt/criminal activity"
—over $11 trillion dollars in assets
—~13,000 investment advisers
—minimal anti-money laundering regulations
—the "perfect confluence of factors that make it an ideal place to hide and launder the proceeds of corrupt/criminal activity"
One of the chapters of AMERICAN KLEPTOCRACY (which you can purchase now!) looks specifically at how private equity/hedge funds in the U.S. have become massive money laundering vehicles unto themselves—and which networks (and oligarchs) have taken advantage.
Laundering in US private equity/hedge funds is really, truly, stupidly easy. Billions in illicit wealth transform, in just a few years, with no questions asked.
Think of it as someone grabbing the control knob of the US money laundering machine, and turning it to the long cycle.
Think of it as someone grabbing the control knob of the US money laundering machine, and turning it to the long cycle.
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