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Russian oligarch moves billions, no crypto needed. How did he do it? Traditional finance (shocking)

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by COINS NEWS 181 Views

Every time someone points to crypto as the main culprit in Russian oligarch money moves you can mention this little ditty.

"A Russian oligarch moved $1.3 billion worth of shares to an offshore tax-haven the day he was sanctioned, filings suggest" https://www.businessinsider.com/russian-oligarch-alexei-mordashov-tui-shares-tax-haven-sanctions-bvi-2022-3

In a nutshell -- company controlled by Russian oligarch Mordashav, moves shares to an offshore tax haven, then entity sells shares. Ta-da. Money moved, no crypto involved. He also moved massive stock holding to his wife in another company.

So, should we outlaw shares in companies or off-shore tax havens first?

Just sayin . . .

submitted by /u/bkcrypt0
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