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View Diary: SCOTUS declines to review Georgia gun law (187 comments)

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  •  NPR Planet money explored this recently. (0+ / 0-)

    With all the campaign news about shell corporations et cetera, they went and created a corporation in Belize.

    In the US, you can file a corp over the internet. I hear lots of commercials for and You pay them, they file the paperwork and for a fee they continue to file all the periodic paperwork that keeps the corporate charter alive. Planet money googled a corporate filing service in belize and paid them to create "Unbelizeable". Pronounced like 'unbelievable'.

    The filing service also offers ghost ownership, in that Planet Money paid a small fee and the filing service provides people who will put their names on the paperwork as "Director" and such, keeping the Planet Money people from EVER being listed. It's a Belize corporation, with a Belize bank account and this Belize corporation can open a swiss bank account. And no US court has any jurisdiction over another country, so it would take pressure from the US State Dept on the national government of Belize to make the Belize government file some sort of subpoena in a Belize court to legally access the bank records of Unbelizeable... at which time they would learn about the swiss bank account.

    And THEN the US State Dept would have to pressure the swiss government for... and so on and so forth.

    As described in the podcast, some of these jurisdictions require a local attorney and some sort of bond to be deposited before the wheels of their legal system begin turning to seize the contents of these accounts - and if you only left a couple hundred in the accounts of the first couple-few layers then very quickly you have spent fifty grand on these legal proceedings in order to seize fifteen hundred bucks... And still haven't traced the money back to a US source nor have any idea how long the chain of shell corporations actually is.

    Thus, right there on the podcast we got to watch a US citizen show how to create foreign tax and liability havens that completely obscures their identity to any but the most tenacious US investigations, for just a few thousand dollars.

    So yeah, it's really fucking easy to end up with a mall owned by a mall corp... the mall corp pays rent to the land owner corp... the land owner corp is a subsidiary of a state real estate investment corp... the state real estate investment corp is owned by an international land investment corp... which has as it's sole shareholder some other random holdings corp... all of which bounce around Belize / Honduras / Nicaragua / Belgium / Caymans / Dominica / Barbados / Anguilla / British virgin isles / Bahamas.

    Good fucking luck getting your email about "What is the policy regarding whether a licensed and trained gun owner is permitted to carry their licensed and registered concealed carry pistol on the premises?"

    Yeah, the sun will go nova and collapse into a singularity long before your gun email will ever get a response.

    It's safe to trust a sane person with the keys to nuclear weapons, but it's not safe to trust an insane person with the cleaners under the kitchen sink.

    by JayFromPA on Wed Jan 09, 2013 at 08:47:10 PM PST

    [ Parent ]

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