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TO:
taxman@centa.com
What is money laundering?
Money Laundering is taking money which has been obtained
through illegal operations which could cover drugs, bootlegging, prostitution,
munitions, bank robbery, fraud smuggling or any other illegal activity.
The resultant "dirty" money is then laundered or made
clean by various means. Buying cars for cash in Canada and selling them
in the US is a common money laundering technique.
Losing money at a casino and getting back clean "winnings"
is a common method. Day-trading is a common method of making dirty money
look clean (I won it on the stock market). Betting a lot of money on
everything a the race track and winning big on the long shots can make money
clean because you can prove the $23,000 win but the $25,000 bet on losers
is conveniently forgotten about.
The story at the bottom comes
from the World Money Laundering Report put out by Nigel Morris-Cotterill.
You can find out more at
www.vortexcentrum.com
I suggest that Realtors, Bankers, Lawyers, Mutual Fund and
Securities peope would get good value by subscribing. Others with an
interest in international fraud and money laundering would also benefit from
the information.
A large amount of information is available free.
By copying this to Valerie Maclean at the Vancouver BBB, I
am welcoming her back to the working world and congratulating her on her first
campaign.
John Boon LLB, the other available email address is
presenting seminars and providing individual advice to companies who are
required to participate in the new legislation. Failure to provide proper
reports under Canada's new legislation can result in fines and imprisonment and
$2,000,000 fines are going to be the norm rather than the exception for
realtores, mutual fund people and others who fail to comply.
If this applies to you, email John a request for more
information. Neither Nigel nor John know I am sending this out.
ingram
EXAMPLE from the WORLD MONEY LAUNDERING REPORT
Los Angeles, USA
From 1986 until May
2001, Reed Slatkin operated a massive Ponzi scheme in which he solicited
more than $593 million from approximately 800 investors. Slatkin, 53, of Santa
Barbara, has pleaded guilty to eight fraud counts, six counts of money
laundering and conspiracy to obstruct the SEC. He is scheduled to be sentenced
on February 24 2003 by Judge Morrow, at which time he faces a maximum possible
penalty of 105 years in federal prison and fines of up to $3.75 million.
Slatkin admitted
that he portrayed himself as a successful financial adviser and provided
investors with account statements which purported to show that investors were
achieving above-market returns on their investments. However, Slatkin generally
did not buy securities as he told investors. Instead, he provided victims with
false account statements that showed the fabricated returns. Then he used the
bulk of investor funds to operate a pyramid scheme in which he paid some
investors returns made up of primarily of funds raised from other investors. He
also used investor money to purchase real estate, corporate jets, automobiles,
artwork and other luxury items for his personal benefit.
The SEC started to
investigate Slatkin in 1999. He contacted Daniel W. Jacobs, now 60, a business
consultant. Together, they conspired, to obstruct the investigation by
providing the SEC with false testimony and documentation. Slatkin sought to
conceal the fact that his investment program was a giant Ponzi scheme and that
his investor account statements were complete fabrications designed to lull and
deceive investors.
As part of the
conspiracy, Slatkin and Jacobs, with the assistance of others, fabricated
correspondence and account statements and set up false European phone numbers
to make it appear that a non-existent brokerage company in Switzerland held
hundreds of millions of dollars in investor funds. In letters and phone calls,
Jacobs pretended to be a representative of a European financial institution in
control of hundreds of millions of dollars of Slatkin investor funds. Slatkin
and Jacobs also caused the SEC to be falsely advised that European law
enforcement agencies had temporarily frozen the funds. Slatkin paid Jacobs
approximately $1 million and gold coins for his participation in the
conspiracy.
david ingram -
www.centa.com
108-100 Park Royal South West Vancouver, BC, CANADA, V7T 1A2 (604) 913-9133 - Fax (604) 913-9123 cell (604) 657-8451 (10 AM to 10 PM 7 days) US / CANADA Income Tax and Working Visa Matters |
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