Launder Money facts
While investigating facts about Launder Money Meaning and Launder Money Definition, I found out little known, but curios details like:
A man committed to a high-security psychiatric hospital 7 years ago for fabricating a story of large scale money-laundering at a major bank is to have his case reviewed after internal bank documents proving the validity of his claims have been leaked.
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HSBC Bank was caught laundering billions of dollars in drug money. No one went to jail.
What's launder money?
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what does it mean to launder money. Here are 50 of the best facts about Launder Money Through Casino and Launder Money Through Real Estate I managed to collect.
what launder money means?
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Google is under investigation in France for "aggravated financial fraud and organised money laundering" of €1,600,000,000.
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HSBC processed cash for Mexico's Sinaloa cartel. At least $881m in drug trafficking money was laundered throughout HSBC accounts. The bank widened the windows at some branches to allow tellers to accept larger boxes of money.
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One man was almost solely responsible for the creation of NSYNC, Backstreet Boys, LFO, O-town, and the career of Aaron Carter. He died last year in prison serving a 25 year sentence for money laundering.
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One of the things that initiated the downfall of Harvard educated money launderer Franklin Jurado was his neighbor in Luxembourg filing a noise complaint against him, because Jurado had a money-counting machine running all night
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Don Lapre, the man that became famous with his 1990s infomercials about placing tiny classified ads in newspapers and getting rich, was charged in 2011 with 41 counts of conspiracy, mail fraud, wire fraud, and money laundering and committed suicide in custody.
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Disappointed that he'd earned nothing from the software he'd developed, Paul le Roux started selling painkillers online, then branched out into illegal narcotics, money laundering, and arms dealing, soon becoming the leader of a rich and powerful cartel.
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Since the early 1900s the Vatican has been one of the top places in the world for money laundering
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HSBC was caught laundering money again, again, and again, of the collusion of the biggest banks that caused Trillions of dollars of damages (the LIBOR scandal) as well as that they are unanimously deemed as "too big to jail".
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Stephen Colbert founded a shell corporation in Delaware named Anonymous Shell Corporation so it could be given large donations to anonymously funnel into his Super PAC, he asked FMR. FEC Chairman Trevor Potter how it was different from money laundering. Potter's response was "It's hard to say."
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There are ordained Buddhist monks in Thailand involved with serious organised crime, gun running, child pornography and money laundering.
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Why do you need to launder money?
You can easily fact check why do you launder money by examining the linked well-known sources.
Because of the ease and relatively extreme secrecy you can open a shell corporation in Delaware, 'companies' routinely make 6 figure donations to Super PACs nearly ever election cycle. DE's corporation laws also help launder money for major criminals all over the world, such as El Chappo.
The RHM Trust Bank, a fake bank set up by the IRS in the 90s to launder drug money and catch drug traffickers. - source
Money launderers often sue each other to wash their money with a judge’s order. - source
The 1974 Texas Chainsaw Massacre was bought and distributed by Louis Peraino of the Bryanston Distributing Company. Louis' father, Anthony Peraino, a made man with Profaci crime family, financed the most profitable porno, Deep Throat. TCM was used to launder money made from DT.
The 1972 pornographic film Deep Throat reportedly earned as much as $600 million, which if true would make it a higher grossing film than Star Wars, though this figure may have been inflated by gangsters who used movie theaters in money laundering schemes. - source
Do you wash money when you launder it?
Whitey Bulger faced 33 counts involving extortion, money laundering, drug dealing, corruption, and being involved in 19 murders.
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The art market is used by criminals to launder money
Scotiabank participated in money laundering schemes in Mexico, did not press criminal charges on its 15 staff members involved and barely helped in solving the murder case involving their branch manager.
Laundered money accounts for 2-5% of the world's GDP, equivalent to between $800 billion-$2 trillion.
The Drug War is a joke: The biggest drug-money launderers ever caught were let off with a slap on the wrist. Smoke a joint, go to jail. Launder billions, get a walk.
Citigroup, Deutsche Bank, and Bank of America were used to launder tens of millions of dollars of drug money to Colombian brokerage firms
