Posted on 06/27/2024 10:13:57 AM PDT by E. Pluribus Unum
You would think this would raise quite a few red flags at the IRS, but nope.
How does refinancing work as a money laundering scheme? I can see bribery if a lender is willing to lend more than FMV, but not getting the alleged angle.
Reminds me of Algore's father's cattle farm, and the cattle that got sold every election cycle ... but never went nowheres.
An old trick is to provide a lender with funds from an illegal source to underwrite a loan on a home or commercial building. You then get the ownership and use of the property.
When the loan is refinanced, you get to draw out accumulated equity as seemingly legitimate cash. Indeed, with compliant and reliable accomplices in a bank, illegal cash can be cycled through again and again as one after another supposed refinancings.
In most instances, unless the safety and soundness of a bank is endangered, these and other sins can be hidden from auditors and examiners. Or, if detected, the issues can be resolved through undisclosed fines and audit criticisms.
It’s beyond absurd. How many corrupt Republicans can there be to not investigate and launch impeachment proceedings?
I’m sure there’d be no questions of PDJT did this.
Shady, all right, and probably managed by Hunter, the family money mover/handler. But the last loan actually traceable to the mortgage was in 2014, so SOL, I suppose.
My very first thought too...
Trump should explain this laundry scheme tonight.
It’s amazing, isn’t it?
One sided justice
Here is one way Joe Biden is laundering money.
He has never made enough to own his homes to begin with except thru bribes.
Joe and Jill Biden have been using their Delaware house for fast cash - refinancing 20 times with loans totaling $4.2M since buying the $350k home
POTUS and first lady refinanced their two homes 35 times over the years
Current Wilmington house has outstanding $541k loan 28 years after purchase
https://www.dailymail.co.uk/news/article-13547165/Joe-Jill-Biden-Wilmington-Delaware-home-refinance-mortgage.html
“Imagine holding a 30th mortgage for twenty-million dollars on a one milliom dollar property full of tons of worthless old federal government documents.”
Hey - if Biden can run the government this way, he can run his home that way.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.