Why do people buy huge canvases with a few dots on from an arts unheard of for millions? I know it’s commonly used to launder money. Can someone explain how the process works?
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The person looking to laundry money finds an artist friend to buy a painting from them. Then that artist can sell their paintings for a ridiculous amount of money because art is subjective and there is no set value on creativity. The newly acquired art is then donated to a museum where they can write that off on their taxes.
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