rant · moment 10 of 24
How New York Real Estate Is a Money Laundering Scheme
from #272 - Night of The Beating | The Tim Dillon Show · #272
3 min
Tim explains from his tour guide days how the ultra-wealthy use shell corporations in places like Delaware and the Cayman Islands to launder money through real estate, name-checking Bernard Arnault's yacht and Beverly Hills purchase.
- New York real estate functions as a vertical money laundering scheme using shell corporations in tax havens like Delaware and the Cayman Islands.
- Bernard Arnault, head of Louis Vuitton, was exposed in the Pandora papers for hiding ownership of a yacht and sneaking $30 million into a Beverly Hills house purchase.
- Tim argues wealthy people should just be embraced for doing cool things rather than condemned—if you were a king with unlimited power, you'd do the same.
Pandora papersNew York CityBernard ArnaultLouis VuittonCayman IslandsDelawareKing Abdullah