A Tale of Two Londons

SCORCH

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Good read. The disputed quote from the monopoly game is vulgar. The commodity plutocrats pissing on the financiers/bankers and pricing them out is amusing though.
 

the mechanic

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:beli: Cliff notes
 

rapbeats

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Wow, and I thought Wall Street was the crook capital.

Good read.

But secrecy, for many, is at least as important: once a foreign investor has avoided British taxes, then offshore secrecy gives him the opportunity to avoid scrutiny from his own country’s tax—or criminal—authorities too. Others use offshore structures for “asset protection”—frequently, to avoid angry creditors. That seems to be the case with a company called Postlake Ltd.—registered on the Isle of Man—which owns a $5.6 million apartment on the fourth floor. Postlake is in turn registered as owned by Purcey Ltd., a B.V.I. entity, which is registered as held on behalf of an Isle of Man trust set up by the bankrupt Irish property developer Ray Grehan, who has been pursued by Ireland’s National Asset Management Agency to recover more than $350 million it says it is owed. Grehan had argued that the apartment is not really his but belongs to a family trust. Martin Kenney, a B.V.I. lawyer, says B.V.I. companies are frequently owned by foreign trusts from more outlandish jurisdictions, such as Nevis or the Cook Islands, deepening the secrecy. These structures are “debtor-friendly and creditor-unfriendly,” he says, so in cases of fraud it can be very hard to recover assets.

and people still believe a good honest chap can make that kind of money without doing something extremely shady. L O L. thats what these rich boys and girls major in. "how to cheat the system 101, 201, 301, and 401"

while nuccas are in the streets busting honest joes in the back of the head for $500 , you watching these fools ball out like you've never imagined.
 
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