Saturday , August 24 2019
Home / Tag Archives: Tax evasion

Tag Archives: Tax evasion

Mysterious Turk At Center Of “Secret Gold” Trade With Iran, Vanishes From Federal Jail

While long forgotten for some, in the summer of 2014, we reported in detail on what appeared to be the biggest, most bizarre money-laundering scheme ever, involving Turkey trading "200 tons of secret gold" with Iran... The topic of Turkey's Oil-for-Gold 'deals' has not been far from our thoughts over the last few years (here, here, and here) but as Bloomberg reports, after accessing a report leaked on March 14 of a network that spanned Turkey, China, Dubai and Iran, the...

Read More »

FBI Investigating Russian Payments Intended “To Finance 2016 Election”

A day after the Atlantic revealed that Donald Trump Jr. exchanged direct messages with somebody (possibly Julian Assange) running Wikileaks’ Twitter account, Buzzfeed has published another ostensibly tantalizing piece of news that, like yesterday’s Trump Jr. non-story, fails to deliver on its headline’s lofty promise. According to Buzzfeed, on Aug. 3 of last year, just as the US presidential election was entering its final months, the Russian foreign ministry sent nearly...

Read More »

Swiss Mystery: Someone Keeps Flushing €500 Bank Notes Down The Toilet

While there are several comments one can make here, "dirty money", "flush with cash" and "flushing money down the toilet" certainly coming to mind, perhaps the ECB was on to something when it warned that €500 "Bin Laden" bills (which it has since discontinued to print) tend to be used by criminals. The reason for this is that in recent weeks, Swiss prosecutors have been gripped by a mystery, trying to figure out why someone tried to flush tens of thousands of euros down the toilet at a Geneva...

Read More »

Money Laundering Scandal At Australia’s Largest Bank Triggers Another Call For Ban On Cash

Authored by Mike Shedlock via MishTalk.com, Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges. Money laundering is big business in Australia because regulations do not cover lawyers, real estate agents, accountants, and CEOs ignoring warnings from police. Despite the obvious problem, it’s cash itself that gets the blame. There are several stories here buts let’s start...

Read More »

What If Taxpayers Could Choose If Taxes Went To The State Or Federal Level?

Authored by Ryan McMaken via The Mises Institute, In recent years, we've examined any number of ways of decentralizing the American political system. These step-by-step moves can include decentralizing the monetary system, decentralizing the military, decentralizing immigration policy, and decentralizing elections. Most recently, we looked at decentralizing the welfare state, and found that each US state is more than wealthy enough and big enough to run its own welfare state at the state...

Read More »

Civil Asset Forfeiture: Another Stealth Tax

Authored by Ryan McMaken via The Mises Institute, When you're a government agency, asking for a tax increase is always a hassle.  For the most part, taxpayers don't like taxes, and if asked if they want to pay more, they're likely to often say "no."  Moreover, when public officials pass tax increases, they may face the wrath of taxpayers at the ballot box. For this reason, governments are always looking for ways to get revenue without having to use tax...

Read More »

Three “Cartel” FX Traders Criminally Charged With Currency Rigging

Moments ago, U.S. prosecutors charged three traders who made up the infamous "Cartel" currency rigging chat room, and who were at the heart of a criminal investigation that has ensnared the world’s biggest banks over the rigging of currency rates. Richard Usher, formerly head of G10 spot trading at JPMorgan, Rohan Ramchandani, formerly of Citigroup and Chris Ashton, formerly of Barclays, were indicted Tuesday for conspiring to fix prices. They’re all outside the U.S. and will have to be...

Read More »

The World’s Largest Trading Floor Is For Sale

Back in September, before the much hoped for Trump "renaissance" of Wall Street, we presented two pictures that summarized the recent transformation of the US financial sector from a trader- to an algo-centric one. We showed the trading floor in UBS' Stamford office, once the largest in the world and big enough to hold 23 basketball courts, and which was a symbol of everything that went right on Wall Street. Packed with traders, it was a non-stop cacophony of screaming, constant motion and...

Read More »

Deutsche Bank Shares Stumble As DoJ Settlement Looms

Deutsche Bank shares are sliding this morning after headlines from CNBC reporting a settlement is close with the US Justice Department over mortgage fraud. With analyst expectations/hopes in the $2 to $5 billion range (against the initial $14 billion fine), reports say the bank is set to pay "less than $14 billion" which has perhaps spooked investors with its uncertainty. Deutsche Bank settlement with U.S. Dept of Justice could come as early as Wednesday, CNBC says, cites Reuters....

Read More »