Can you give me an understandable example of money laundering? So say it’s a storefront that sells art but is actually money laundering. How does that work? What is actually happening?
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I have 100 dollars from illegal activities that I can’t put in a bank or spend without the IRS catching on. So I buy a painting for $2 and “sell” it to someone for $100 dollars, except that $100 is my illegally gained money. Well that money is now “legitimate income”. I have on the books I sold a painting for $100 and that’s how I got this money. Usually the businesses are real and generate some legitimate income and are supplemented with illegal gains, that way if there is suspicion it passes as legitimate.
Obviously they do way bigger numbers though. There’s also a seen in Breaking Bad that shows it simply. She owns a car wash and to wash the money or launder it she just processes a bunch of car washes that aren’t actually happening. Turning illegal money into seemingly legitimate income.
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