When you fight corruption, corruption fights back
November 19, 2024 11:35 AM Subscribe
The U.S. real estate market has become a money-laundering haven for corrupt officials and criminals across the world, a place to hide their cash behind opaque shell companies. from The mysterious Virginia mansion allegedly bought with stolen Nigerian money [The Washington Post; ungated]
You want to Make America Great Again? Stop allowing corporate interests to buy housing provide reasonably priced houses to the average American worker at low inters...
Oh, who the hell are we kidding!?
posted by BlueHorse at 12:02 PM on November 19 [16 favorites]
Oh, who the hell are we kidding!?
posted by BlueHorse at 12:02 PM on November 19 [16 favorites]
Incidentally, this seems like a good place to let me people know:
By new regulation, every company in the US is supposed to have registered its beneficial owners, with penalties for failing to do so. It applies to any company that is required to register at the state level (so LLCs, but not DBAs). The purpose of this law is to make investigating these sorts of financial crimes easier.
https://www.fincen.gov/boi-faqs
If you are the owner of an LLC, you need to do this by January 1, 2025. I kind of doubt they're going to start penalizing people day 1 because they haven't really done a great job letting business owners know they're supposed to do this (I found out more or less by accident that I needed to do this).
posted by justkevin at 12:53 PM on November 19 [13 favorites]
By new regulation, every company in the US is supposed to have registered its beneficial owners, with penalties for failing to do so. It applies to any company that is required to register at the state level (so LLCs, but not DBAs). The purpose of this law is to make investigating these sorts of financial crimes easier.
https://www.fincen.gov/boi-faqs
If you are the owner of an LLC, you need to do this by January 1, 2025. I kind of doubt they're going to start penalizing people day 1 because they haven't really done a great job letting business owners know they're supposed to do this (I found out more or less by accident that I needed to do this).
posted by justkevin at 12:53 PM on November 19 [13 favorites]
Yesterday I heard an ad for registering beneficial owners on NPR.
posted by betaray at 11:41 AM on November 20
posted by betaray at 11:41 AM on November 20
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posted by Jessica Savitch's Coke Spoon at 11:42 AM on November 19 [3 favorites]