Civil lawsuits between shell LLCs are the ultimate money laundering vehicle. Trump involved in 3500+

[MelissaB]

Last edited Sat Feb 2, 2019, 08:37 PM - Edit history (1)

Huh. Trump had been involved in...(checks notes)...3500 lawsuits by the time he took office. Oops, I mean, 3500 that we know of.

Link to tweet

Civil lawsuits between shell LLCs are the ultimate money laundering vehicle. $500 to establish each LLC $250 civil suit filing fee And about $2,000 in fees to a random, but willing, attorney to facilitate. Total cost: ~$3,250 Then the two parties “reach a settlement”.

That settlement can be for millions of dollars, can include binding confidentiality clauses, is not public record, and, most importantly, is the perfect cover story for tens of millions to be transferred as one lump sum.

Link to tweet

[MelissaB]

1. Did anyone else think of the Deripaska - Manafort lawsuit?

[MelissaB]

2. Top London law firms profit from feuding Russian oligarchs

Top London law firms profit from feuding Russian oligarchs

Profits at top 100 London law firms increased by 8% to £5.4bn last year, with billings up 17% to £17.7bn, survey shows

Russian oligarchs' taste for British justice helped London lawyers rake in a record-breaking £5bn of profits last year.

Chelsea FC owner Roman Abramovich may have won his battle against $6.5bn (5bn) of claims by exiled oligarch Boris Berezovsky, but the legal fees associated with the case are expected to top £100m.

When the lawyers have totted up all the hours spent on the four-month long High Court battle it is expected to rank among the most expensive cases to have been fought in London courts. And Abramovich vs Berezovsky is just one of a slew of oligarch battles making their way through London's legal system, and turning the lawyers involved into multi-millionaires.

In a few weeks the High Court will hear the next round of a legal battle between Oleg Deripaska, the Russian billionaire friend of Lord Mandelson, and Michael Cherney, a Uzbek-born businessman.

This year Kazakh billionaire Mukhtar Ablyazov fled from the UK after the court found him guilty of lying about his vast fortune during one of the world's biggest world's biggest ever fraud trails. Ablyazov, who lied about his ownership of a £17m house on The Bishops Avenue in north London, known as London's "millionaires' row", is now a fugitive from UK justice.

More: https://www.theguardian.com/law/2012/sep/04/london-abramovich-v-berezovsky-court-case

[MelissaB]

3. Deripaska and Cherney make surprise deal out of court

Deripaska and Cherney make surprise deal out of court

Enigmatic settlement comes days before scheduled video testimony for £1bn litigation case over 'aluminium wars'

The Russian aluminium tycoon Oleg Deripaska dramatically settled his long-running feud with the billionaire businessman Michael Cherney on Thursday when Deripaska announced both parties had reached an out of court settlement.

In a brief statement aides to Deripaska said: "Mr Deripaska announces that Mr Cherney's litigation in London against him has been terminated.

Neither party will be making any further comment in relation to the litigation or matters raised therein."

... snip

Deripaska was scheduled to go into the witness box in November. His fellow oligarch Roman Abramovich, the owner of Chelsea FC, had agreed to give evidence in support of Deripaska, one of Russia's richest men and the owner of Rusal, the world's largest aluminium producer. The case would have shed light on one of the murkiest episodes in Russia's bloody post-Soviet history, when rival groups and organised crime bosses fought for control of the country's lucrative aluminium industry. The so-called "aluminium wars" were characterised by a series of gangland-style murders, political skulduggery and extortion claimed at the highest levels.

More: https://www.theguardian.com/world/2012/sep/27/deripaska-cherney-surprise-deal

[dalton99a]

4. That's how Trump made his money - by running a Russian money laundromat

[Wellstone ruled]

5. Shell companies are nothing but

legalized money laundry operations.

[Hermit-The-Prog]

6. k&r!

[Farmer-Rick]

7. Crap, is there anything capitalist do that isn't to defraud someone?

Capitalism and free markets a vast immoral conspiracy to steal from the poor.

[icymist]

8. K & R