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but a lot of people would be surprised at how much flows through innocuous industries like Hollywood.
Actually money laundering through art is quite wide spread. Just Google it....there have been books written about it, CNN has reported on it in China, etc...it works because there is no specific dollar value that can be placed on the art....its all about what someone will either pay for it or what the owner says it's worth.
And yes, I am one that thinks Tony Podesta has been doing this for a while.
originally posted by: introvert
a reply to: Edumakated
but a lot of people would be surprised at how much flows through innocuous industries like Hollywood.
Ok. How much flows through Hollywood?
Limelight Films seemed from the outside like so many upstart production companies in Hollywood: It had a Sunset Boulevard address, a connection to Tinseltown royalty and deals to distribute a small slate of low-budget films. But federal authorities have alleged that the film corporation was a front for an international drug-smuggling and money-laundering operation stretching from Los Angeles to Switzerland.
You can't put a dollar figure on it... jeez man, it is an illegal activity. WTF?
Hollywood raises all kinds of capital from investors, it isn't unreasonable to think that some of that capital is illicit and being laundered. Again, if I got $20 million that I need to cover up, it is a lot easier to funnel it through Hollywood to make a film that might cost $100 million to make or buy some art for $20 million than to try to funnel that kind of money through a car wash.
You can't be this naive.
Leonardo Christ painting sells for record $450M
Hollywood accounting (also known as Hollywood bookkeeping) refers to the opaque or creative accounting methods used by the film, video, and television industry to budget and record profits for film projects. Expenditures can be inflated to reduce or eliminate the reported profit of the project, thereby reducing the amount which the corporation must pay in taxes and royalties or other profit-sharing agreements, as these are based on the net profit.
originally posted by: IAMTAT
a reply to: queenofswords
Update on the DaVinci:
Leonardo Christ painting sells for record $450M
www.yahoo.com...
Russian billionaire Dmitry Rybolovlev last bought the painting in 2013 for $127.5 million.
originally posted by: introvert
a reply to: Vasa Croe
Actually money laundering through art is quite wide spread. Just Google it....there have been books written about it, CNN has reported on it in China, etc...it works because there is no specific dollar value that can be placed on the art....its all about what someone will either pay for it or what the owner says it's worth.
That could very well be true. I am not an art fan, so I pay little attention to the scene.
In the case of the OP, I'm not seeing what others are seeing.
And yes, I am one that thinks Tony Podesta has been doing this for a while.
Any hard evidence?
originally posted by: toysforadults
400 million???
how many people could it have been?
The Luxembourg newspaper Luxemburger Wort reported Thursday that it has emerged that at the end of June no less than 90 police, accompanied by prosecutors and a federal judge launched a massive raid on the headquarters of the private bank Edmond de Rothschild (BPERE).
The scale of the operation against a financial institution was unprecedented the paper explained and it was linked to the bank’s involvement in 1MDB, described as “possibly the largest money laundering operations ever uncovered in the Grand Duchy”.
originally posted by: jadedANDcynical
a reply to: queenofswords
Ya know, the Mayalasian Money thing might be tied in to what Q's been on about, I did a thread back in August 2016 about this when it first hit and lo and behold:
The Luxembourg newspaper Luxemburger Wort reported Thursday that it has emerged that at the end of June no less than 90 police, accompanied by prosecutors and a federal judge launched a massive raid on the headquarters of the private bank Edmond de Rothschild (BPERE).
The scale of the operation against a financial institution was unprecedented the paper explained and it was linked to the bank’s involvement in 1MDB, described as “possibly the largest money laundering operations ever uncovered in the Grand Duchy”.
90 Federal Police Officers Raided Edmond de Rothschild Bank! How Aabar Scandal Could Dwarf 1MDB
page: 1
A pre-storm event?
Before the raid, the Chief Executive Arianne de Rothschild (see featured image) had brushed aside journalists and laughed smugly when assured by her associates that she and her bank were “untouchable”.
originally posted by: AdKiller
Paintings are used as playing cards of the elite. They are assigned values, get out of jail free for life, rape charge immunity, etc. If somone physically steals you're card, they can't use the power but for a short period determined by the card master. Whoever buys the card from the thief must pay 10% extra for every card crime committed by the thief during his crime allotment period. Those who lost and intend on purchasing the card contend in a 3 way battle with the thief, if the original cardholder can frame a pasty of the thiefs crimes during his allotment the card is returned to him by the card master. If the thief manages to hold the card until the end of his crime allotment the card is void and another is issued to the thief at random, the original holder is penalized as are any attempted buyers who failed to obtain the card during the thiefs crimes allotment period. .
Its called Crooks and Commanders
Their 2018 offering Billion Dollar Whale meticulously detailed Jho Low's alleged exploits and became an instant bestseller in Malaysia.
But Tom Wright and Bradley Hope have been investigating the 1MDB money trail for years at the Wall Street Journal.
"News stories don't typically go beyond 2,000 words and it felt like we were cutting out a lot of fascinating details [from the saga]," said Hope. "We knew people were having a hard time following the scandal and there was a bigger, more colourful story to do about Jho Low specifically."
Hope said their book crystallised how bad the scandal was for Malaysia.