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[Money Laundering] How did Carlos Ghosn launder money?
Roughly speaking
- Focus on money laundering in Finsen documents. The explanation video of the Cat Gumi Chief's manelon is interesting.
- Carlos Ghosn misused the Middle East Nissan and the Oman route to illegally transfer the money.
- About tax workarounds that Google, Apple, Facebook and others have also used. Double Irish and Dutch sandwiches.
Finsen Documents
The Finsen document exposed that financial institutions around the world were allowing money laundering totals of $2 trillion in 2000-2017.
To be honest, money laundering has also become a source of food for financial institutions, and many of them have been offered as a service.
Hong Kong's growth as a financial district comes from the aspect of its growth by laundering hidden assets obtained through bribes and illegal transactions by senior Chinese Communist Party officials and mafia through casinos called Macau.
Tax evasion by the wealthy is also one of the most likely to be criticized.
Donald Trump only pays 70,000 yen in income tax, and many companies are headquartered in Ireland.
Come to think of it, do you know how Carlos Ghosn, former Nissan chairman, fled to Lebanon, hiding in a box of instruments?
He made the most of the Nissan box and built a wealth of personal assets.
Carlos Ghosn's money laundering
The explanation video of Carlos Ghosn's method by the former manager of Cultural Affairs Broadcasting Station, which was very easy to understand, but I will also explain it in writing.
Ghosn wanted to somehow bring Nissan's profits into his pocket.
However, currently, financial crimes are strictly monitored, and direct international remittances are inevitable.
After being advised by a British financial man, he took the Oman route, which is famous as a breeding ground for money.
He borrowed 3 billion yen personally from the owner of Suhail-Bahawang Motor (SBA), a Nissan car dealer in Oman, and provided a deferral to pay the SBA and a discount on interest rates.
Furthermore, the funds will be injected from Nissan, the Middle East, under the name of a bounty (contributions from CEO reserve funds), and the SBA will transfer the money to the paper company.
The paper company was sent to Ghosn's wife and eldest son's company, and as a result, it went into Ghosn's pocket.
In addition, Ghosn has taken over the debts from the financial derivatives that it had managed with Shinsei Bank to Nissan.
Shinsei Bank had sought additional collateral of around 1 billion yen for Ghosn, which suffered a loss due to the Lehman shock.
So, an acquaintance of mine and Saudi businessman Khalid Juffali gave Nissan a 3 billion yen "Standby Elsie (Credit Guarantee)" to Shinsei Bank as a credit guarantee, and in thanking Mr Juffali he paid 1.6 billion yen from the CEO's reserve fund in the name of sales promotion fees to the local joint venture.
As a result, Nissan was taking over Ghosn's loss.
The reason Ghosn's money is that he was making Nissan a privatized person.
Typical tax avoidance (double Irish Dutch sandwich)
Furthermore, Ghosn also performed typical tax evasion.
A specific example is the double Irish and Dutch sandwich.
This is a method of having two subsidiaries in Ireland and going through the Netherlands.
Under Ireland's tax law, there are cases where companies that do not have business conditions in Ireland are not subject to taxes even if their address is in Ireland.
As a result, they set up an Irish company with tax havens in sales.
However, this is not yet complete. Tax havens are being looked after by authorities around the world, so overseas remittances are still a mark.
For example, in the vicinity of Ireland, the Bermuda Islands are tax havens, but it is not possible to generate business situations in the Bermuda Islands.
Therefore, in addition to one nominal company, we will establish another company in Ireland that will carry out the original operations.
However, this is not complete. This time, an Irish company that does its original business will fall under tax law.
Here is a loophole in Ireland's tax law. The law states that if the other party is the Netherlands, taxes are not levied.
This is a Dutch sandwich. In other words, the company is transferred via the Netherlands to an Irish company with actual sales conditions and is said to have no actual sales conditions and is said to have actual sales conditions in tax havens.
As a result, it becomes tax-free anywhere in the world.
This technique is used by Google, Apple, Facebook, etc., and sometimes the leak of XX documents causes the leakage of wealthy people around the world to avoid taxes using the above methods.
One of them was Carlos Ghosn.
Tax evasion itself is legal, but it can be said to be almost the same as money laundering.
We are seriously paying taxes, but first we should increase our financial literacy and live a great deal.