Art Auctions Are Just Money Laundering
http://www.newser.com/story/177753/a...aundering.html
"Michael Wolff observes in USA Today. "Art, perhaps second only to drug trafficking, is among the world's most lucrative dubious businesses," he writes. These days, it's a more efficient and private money place to hide cash than a Swiss bank. "
$1M painting, used in money-laundering scam, sent back to Brazil to reimburse defrauded victims
http://www.nydailynews.com/news/worl...ticle-1.441891
"A Roy Lichtenstein masterpiece worth more than $1 million is going back to Brazil - and the auction block - to help reimburse victims of a Brazilian mini-Madoff.
The Lichtenstein and a second painting were part of a huge art collection used by a South American scammer to launder some of the $1 billion he stole from Bancos Santos."