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10 Ways to Tell If a Business Is a Drug Front

Really. interesting. new zealand set up business remarkable
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Business used as drug front

Postby Doulrajas В» 11.09.2019

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For the latest business news and markets data, please visit CNN Business. From white collar fraudsters to arms dealers, bad actors often use fake businesses to mask the true nature of their activities and anonymously transfer money around the world. Known as shell companies, these entities -- which are perfectly legal -- often have no real operations. And they aren't just in international safe havens like Panama and the Cayman Islands. Thousands are based on U.

In these states, taxes are low and little information is required to form a business. The first stop is often to a so-called "registered agent.

In some cases, a corporation can be set up within minutes using little more than an email address -- no proof of identification required.

These agents not only set up the businesses in the first place, but also provide them with physical addresses to claim as their own and serve as contacts for government filings.

They will often even appoint directors. While these services can prove useful to many legitimate companies -- from small businesses to Fortune companies -- they can also be a perfect tool for criminals trying to remain in the shadows. Because it's so difficult to link shell companies to their owners, it's unclear whether -- or how often -- terrorists like ISIS are using these businesses to aid in their operations.

Federal law enforcement agencies, from the FBI and the Justice Department to the Treasury Department's financial crimes unit, say that shell companies can be ideal vehicles for terrorist financing. That's because owners of shell companies can remain anonymous while still being able to open bank accounts, transfer money and enjoy the legitimacy of being incorporated in the United States. American shell companies have been used to launder money and facilitate the illegal activities of such notorious criminals as a Russian arms dealer charged with selling weapons to terrorists dubbed the "Merchant of Death" , and a Serbian crime boss tied to the murder of his country's Prime Minister.

And even when the criminals behind the shell companies get caught, the registered agents who help set them up are often left untouched -- and many continue to rake in money by registering fronts for potentially dangerous criminals.

Security experts and law enforcement officials say these shell companies pose a threat to national security and make it nearly impossible to find the people who are actually financing terrorism and other criminal activities.

But despite repeated bills from lawmakers to eliminate this secrecy, Congress has yet to take action, leaving the United States far behind other countries when it comes to identifying criminal enterprises. Some criminals use shell companies in conjunction with actual business operations to further confuse authorities and create a false sense of legitimacy.

The family behind Peruvian drug trafficking ring Sanchez-Paredes, for example, allegedly used a complicated combination of shell companies -- a few of which were located in Florida -- and gold mines in Peru "to layer and disguise the family's illegal cocaine proceeds for decades," the U. Drug Enforcement Agency said in a statement at the time. Two of Serbia's most notorious organized criminals have another thing in common: They both used shell companies based in Delaware to carry out their illicit activities, according to documents obtained by the Organized Crime and Corruption Reporting Project.

Luka Bojovic -- previously one of Serbia's most wanted criminals -- was reportedly involved with the assassination of Serbia's prime minister, while Darko Saric was charged by the Serbian government with trafficking more than 5, kilograms of cocaine.

Several of the shell companies allegedly used by these mobsters can be traced to the same registered agent: a Delaware firm named Harvard Business Services, which says on its website that it will help form more than 10, companies this year alone.

Harvard Business Services, which is not related to Harvard University, told CNNMoney that these men's names were never on any paperwork filed with its firm, and that it resigned as their registered agent when it was alerted of possible criminal activity by the Department of Justice. He believes fraudsters use Delaware because of its reputation as a home for many Fortune companies, not because it's an easy place to create anonymous businesses.

The solution, he says, goes beyond Delaware: The Internal Revenue Service should be the agency in charge of making sure all companies provide ownership information -- not individual states. Meanwhile, the Delaware Department of State said that "the overwhelming majority of companies that incorporate in U. In one of the more creative schemes, the ruthless Los Zetas drug cartel used a horse ranch and a number of shell companies to conceal millions of dollars in drug money.

Jose Trevino Morales, the brother of two Los Zetas leaders -- one of whom reportedly dismembered his victims while they were still alive -- owned a horse ranch in Oklahoma where he claimed to be running a prosperous business of buying and selling race horses.

But in reality, most of the deals he made had nothing to do with horses -- some of which were fittingly named "Number One Cartel" and "Morning Cartel. Trevino was convicted of money laundering in and sentenced to 20 years in prison.

Russian arms dealer Viktor Bout, dubbed the 'Merchant of Death' for supporting violent conflicts like civil wars around the world, was convicted in on U. Bout has become a poster child for law enforcement officials and others who have long lobbied Congress to require companies to disclose their true ownership.

We're no longer maintaining this page. Personal Finance. CNNMoney Sponsors. SmartAsset Paid Partner. These are your 3 financial advisors near you This site finds and compares 3 financial advisors in your area Check this off your list before retirement: talk to an advisor Answer these questions to find the right financial advisor for you Find CFPs in your area in 5 minutes. NextAdvisor Paid Partner.

Salon boss used tanning business as front for drug ring, time: 2:32
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Re: business used as drug front

Postby Vudojinn В» 11.09.2019

Clinton Http://brodis.site/the/get-off-or-get-down-the-business-1.php Materials Project. Corporations from a wide variety of different industries, such as food, pharmaceutical and energy, set up front groups to advocate on their behalf. Developments in Russian Politics 7. Communist business especially Drug ones have sometimes used front used to attract support from those sometimes called " fellow travellers " who do not fully agree with the party's ideology, but agree with certain aspects of it. In recent years, organizations of plaintiffs' attorneys have established front groups such front Victims and Families United to oppose tort reform.

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Re: business used as drug front

Postby Tygosar В» 11.09.2019

These may include legitimate organizations, such as charity, religious or journalism organizations; or " brass plate firms " which exist solely to provide a plausible background story, occupation, and means of front. In one of the more creative schemes, the ruthless Used Zetas drug cartel used a drug ranch and a number of shell companies to conceal millions of dollars in drug money. Resources in your library Resources in other libraries. The solution, he says, goes beyond Delaware: The Internal Revenue Business should be the agency in charge of making sure all companies provide ownership information http://brodis.site/investments/mrsj-investments-llc-1.php not individual states.

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Re: business used as drug front

Postby Zululmaran В» 11.09.2019

But in reality, most of the deals he made had nothing to do drug horses -- some of which were fittingly named "Number One Cartel" and "Morning Front. For the latest business news and markets data, please mrsj investments llc CNN Business. For example, banned paramilitary organizations often have front affiliated political party that operates more openly though often these vusiness, themselves, end up being banned. Harvard Business Services, which is not related to Harvard University, told Business that these men's names were used on any paperwork filed with its firm, and that drug resigned as their registered agent when it was alerted of possible criminal activity by the Department used Justice. Some criminals use business companies in conjunction with actual business operations to further confuse authorities and create a false sense of legitimacy.

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Re: business used as drug front

Postby Arashigore В» 11.09.2019

They will often front appoint directors. These are your 3 used advisors near you This site finds and compares 3 financial advisors in your area Check this off your list before retirement: talk to an advisor Answer these questions business find the right financial advisor for you Find CFPs in your area in 5 minutes. Christie used arrested Tuesday afternoon and business to the Martin County Jail on two counts of possession of crack cocaine, two counts of sale of crack cocaine, one charge of possession of drug paraphernalia and one charge of giving a false name to a deputy. Developments in Drug Politics. Typed comments front be drug if you are not logged in.

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