'Artist' Hunter Biden Better Watch Out, New WH Report Warns Against Money Laundering Scheme
I find it interesting that just as Hunter Biden suddenly becomes an 'artist' the White House issues a corruption report warning against using art to launder money. The document titled “United States Strategy on Countering Corruption" was released by Senior Ethics Fellow at Project of Government Oversight Walter Shaub and specifically flagged several aspects of 'interest' as it concerned Hunter Biden. Including foreign corruption and bribery but a little more directly- using art deals to laundry funds.
The report noted, “The markets for art and antiquities—and the market participants who facilitate transactions—are especially vulnerable to a range of financial crimes.”
“Built-in opacity, lack of stable and predictable pricing, and inherent cross-border transportability of goods sold make the market optimal for illicit value transfer, sanctions evasion, and corruption,” the report added.
The report also stated that the U.S. government would “also hold accountable those who choose to engage in corruption. As part of this effort, the U.S. Government will enforce existing rules using proven tools, while also working with the Congress on new authorities to take on the corruption challenge as it stands today.”
This past year, Hunter Biden announced his decision to enter the art world. Shortly thereafter, buyers began shelling out boatloads of cash for the “esteemed” painter’s work.
The report continues: “Built-in opacity, lack of stable and predictable pricing, and inherent cross-border transportability of goods sold, make the market optimal for illicit value transfer, sanctions evasion, and corruption.” /2https://t.co/N6NnP1MWBs
— Walter Shaub (@waltshaub) December 6, 2021
The report also stated that "The United States will implement newly established tools for investigating and prosecuting money laundering offenses. For example, the Department of Justice (DOJ) and its investigative partners now have expanded subpoena power for certain financial records maintained abroad, and new disclosure requirements for beneficial ownership information, as well as financial rewards to incentivize reporting on Bank Secrecy Act violations in financial institutions and for information leading to the identification and seizure of illicit proceeds"
Is it a coincidence? I don't think so.
The report vowed to monitor all suspicious foreign transactions including cryptocurrency.
