Let's say you're a powerful foreign leader who has accepted millions of dollars in bribe payments, a "Kleptocrat." You've got a problem: where to stash the loot? The stacks are too big to stockpile in your piggy bank or sock drawer. You need to be more creative. Here is one solution: set up an off-shore company, open a bank account in a jurisdiction with strict bank secrecy laws, load the account with the bribe payments you received, and then buy premium real estate in the United States. Voila – clean money.
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Originally published on theNYU Law Compliance & Enforcement blog
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