Author Topic: How to hide 400 Million  (Read 2308 times)

deadlymonkey

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How to hide 400 Million
« on: December 01, 2016, 09:40:34 AM »
http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-million.html?action=click&contentCollection=Americas&module=Trending&version=Full&region=Marginalia&pgtype=article

New York Times article so may be behind a paywall for you, but really good story of how the super wealthy (individuals and businesses) hide money to appear poor while also jetsetting around the globe.

Bicycle_B

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Re: How to hide 400 Million
« Reply #1 on: December 01, 2016, 10:30:26 AM »
Fascinating story.

Car Jack

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Re: How to hide 400 Million
« Reply #2 on: December 01, 2016, 11:06:02 AM »
I couldn't get past the fact that she gathered all the documents and laptops in a suitcase......then went for a walk on the beach.  Really?  If she were robbing a bank, I'd expect she'd stop before getting into the getaway car.....leave the money bags on the sidewalk and go into the consignment shop to look at that cute Queen Ann chair.  What a maroon.

ubermom4

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Re: How to hide 400 Million
« Reply #3 on: December 02, 2016, 08:29:24 PM »
Thanks for bringing attention to this story. It was very interesting, complicated and very well-written. One aspect that I really enjoyed was that the wife was not a particularly nice or smart person. She did not seem to be much better than her scumbucket husband. What an unpleasant way to live.

With This Herring

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Re: How to hide 400 Million
« Reply #4 on: December 02, 2016, 09:12:11 PM »
I couldn't get past the fact that she gathered all the documents and laptops in a suitcase......then went for a walk on the beach.  Really?  If she were robbing a bank, I'd expect she'd stop before getting into the getaway car.....leave the money bags on the sidewalk and go into the consignment shop to look at that cute Queen Ann chair.  What a maroon.

Yeah, this struck me as well.  And this was after the story stressed that she was under a time-crunch as the housekeeper who favored the husband would be back any minute.

I also agree with ubermom4.  It sounds like their fortune was built scamming people, so I'm not sure how she thought he would have any more integrity toward her.

MarciaB

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Re: How to hide 400 Million
« Reply #5 on: December 04, 2016, 02:34:02 PM »

I also agree with ubermom4.  It sounds like their fortune was built scamming people, so I'm not sure how she thought he would have any more integrity toward her.

...because if they do it with you they'll do it to you...

SnackDog

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Re: How to hide 400 Million
« Reply #6 on: December 04, 2016, 04:55:27 PM »
He is a crook. She is a crookette.

cdttmm

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Re: How to hide 400 Million
« Reply #7 on: December 05, 2016, 04:50:07 AM »
Fascinating.

charis

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Re: How to hide 400 Million
« Reply #8 on: December 05, 2016, 05:58:13 AM »

human

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Re: How to hide 400 Million
« Reply #9 on: December 05, 2016, 09:25:56 PM »
It's hilarious that she was originally in on hiding the assets to protect her an her husband's ill gotten gains against law suits and taxes. Still, a union is a union and he should pay up.

Poundwise

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Re: How to hide 400 Million
« Reply #10 on: December 10, 2016, 11:26:13 AM »
The thing that really bothers me is that there is an entire industry of accountants, lawyers, etc. to help the super-rich hide their incomes.  I don't think this guy could have or would have played this whole shell game if he hadn't had somebody at his elbow telling him, "Sure you can evade taxes! And here is how to do it!"

In some ways, I think that the firms like Daszkal Bolton and Squire Patton Boggs are to blame for this phenomenon. And whether this man goes to jail or not, they make money.  They may be legal, but they are not ethical.