Modern Art = Money Laundering Scam? - GoFuckYourself.com

wehateporn · 05-27-2014, 04:31 AM

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."

JennaFame · 05-27-2014, 06:17 AM

Wow, good for the victims. His art collection was really nice though.

JennaFame · 05-27-2014, 06:18 AM

I wonder if FINTRAC will start monitoring art sales.

JFK · 05-27-2014, 07:14 AM

Quote:

Originally Posted by JennaFame

I wonder if FINTRAC will start monitoring art sales.

they probably are already

CAHEK · 05-27-2014, 12:49 PM

Modern Art = Good Investment

adultmobile · 05-27-2014, 01:29 PM

Art is used to avoid tax too:

http://www.dailymail.co.uk/news/arti...ure-heirs.html

http://www.stltoday.com/business/loc...ff3c2218f.html

PaperstreetWinston · 05-27-2014, 05:15 PM

Its a good cover for laudering, but roy's art is also good imho

MiamiBoyz · 05-27-2014, 08:44 PM

Art is highly inflated and in fact actually worthless so it is the perfect vehicle to launder money.

It's value is abstract as is the concept of money itself. Ideal

BobDobalina · 05-27-2014, 09:58 PM

It's crazy what people can get away with in the name of "art".

There were two pieces yanked from a gallery because they were made up of 12,000+ E pills

[EDIT - Not allowed to post links yet]

How the artist got away with that is beyond me; yes they were removed from the gallery but he faced no consequence.

Here's a quick quote from the article if you wanted to google it, or just have a quick facepalm

"Love & Death ? a 6ft skull and crossbones with an asking price of £100,000 ? and multicoloured piece Taste The Rainbow, on sale for £75,000, "

"He said the prospective buyer would be given the option to replace the tablets with fake ones."

05-27-2014, 04:31 AM	#1
wehateporn Promoting Debate on GFY Industry Role: Join Date: Apr 2007 Posts: 27,173	Modern Art = Money Laundering Scam? 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." __________________ Sexy Girls Teasing

05-27-2014, 12:49 PM	#5
CAHEK C.C.C.P. Industry Role: Join Date: Aug 2003 Location: Novorossiya Posts: 6,927	Modern Art = Good Investment __________________ Pharma from True-Meds. High converting shop in Europe and USA, fast payouts via BTC !!!

05-27-2014, 01:29 PM	#6
adultmobile No, I am not banned Industry Role: Join Date: Nov 2003 Location: ChatGF.com Posts: 5,345	Art is used to avoid tax too: http://www.dailymail.co.uk/news/arti...ure-heirs.html http://www.stltoday.com/business/loc...ff3c2218f.html __________________ TubeCamGirl.com

05-27-2014, 05:15 PM	#7
PaperstreetWinston Confirmed User Industry Role: Join Date: Jan 2014 Posts: 2,604	Its a good cover for laudering, but roy's art is also good imho __________________ Winston Affiliate Support PaperstreetCash MYLFMoney Charger Cash Skype: mikrocosmos1 Email: [email protected]

05-27-2014, 09:58 PM	#9
BobDobalina Registered User Industry Role: Join Date: Jul 2012 Posts: 29	It's crazy what people can get away with in the name of "art". There were two pieces yanked from a gallery because they were made up of 12,000+ E pills [EDIT - Not allowed to post links yet] How the artist got away with that is beyond me; yes they were removed from the gallery but he faced no consequence. Here's a quick quote from the article if you wanted to google it, or just have a quick facepalm "Love & Death ? a 6ft skull and crossbones with an asking price of £100,000 ? and multicoloured piece Taste The Rainbow, on sale for £75,000, " "He said the prospective buyer would be given the option to replace the tablets with fake ones." __________________ Stop promoting low paying offers! CrakRevenue Offers $2.50+ PPL / 35%+ Rev-Share / $50+ PPS - Tons of niches and offers all condensed into one generous monthly payment for you

05-27-2014, 06:17 AM	#2
JennaFame Registered User Industry Role: Join Date: May 2014 Posts: 47	Wow, good for the victims. His art collection was really nice though.

05-27-2014, 06:18 AM	#3
JennaFame Registered User Industry Role: Join Date: May 2014 Posts: 47	I wonder if FINTRAC will start monitoring art sales.

05-27-2014, 08:44 PM	#8
MiamiBoyz fgfdftre6 Industry Role: Join Date: Oct 2012 Location: In the closet with your dad! Posts: 6,690	Art is highly inflated and in fact actually worthless so it is the perfect vehicle to launder money. It's value is abstract as is the concept of money itself. Ideal