The indictment alleges the conspiracy-fueled paper’s massive revenue growth in recent years was tied to the chief financial officer’s fraudulent “Make Money Online” team.
I agree I am not sure how to do this with a business that isn’t cash based. Pretty sure I could pull it off with say a restaurant or a barbershop or something that people use paper money for.
Also not sure how true this is but I heard from an accountant that if you run a legit cash business you are more likely to be audited compared to a money laundering scheme. Since a fake business can make itself look 100% statistically aligned with the models the IRS uses while a real business is much more likely to be slightly off.
actually it is vaguely surprising. They know how to launder money?
Not very well, it would appear.
Chinese laundry businesses have been around as long as Chinese in the Americas.
I agree I am not sure how to do this with a business that isn’t cash based. Pretty sure I could pull it off with say a restaurant or a barbershop or something that people use paper money for.
Also not sure how true this is but I heard from an accountant that if you run a legit cash business you are more likely to be audited compared to a money laundering scheme. Since a fake business can make itself look 100% statistically aligned with the models the IRS uses while a real business is much more likely to be slightly off.