London property boom built on dirty money

Loughton_Monkey

Conrad wrote: »

I wonder if those LSE surveys into whether migrants are a net benefit count all these tax dodging folk?.....

I expect not.

But before that, it would be easier and more honest if they re-did the calculations properly. In other words include all 'in work' benefits [not just jobseekers], plus take into account a 'per capita' standard 'cost per person' that we all get the benfit of in terms of Health Service, Roads, Defense, etc.

purch

Loughton_Monkey wrote: »

If I were to be a Nigerian government official,

When I was a young wet behind the ears Junior FX dealer (1982) a man claiming to be a Nigerian embassy "official" came into the bank flanked by two very large henchmen, wanting to buy a large amount of Belgian Francs in order to buy Cars in Belgium to export to Nigeria.

One of the henchmen had a briefcase handcuffed to his wrist containing £ 20 notes.

I did the transaction for them, and paid the cash in, and then the "official" handed me £ 500 for my trouble.

They came back a couple of weeks later to do a similar transaction and it was like Pamplona on the trading floor as everyone tried to get to them first :eek:

P.S. Of course Money Laundering hadn't been invented back then,

westernpromise

purch wrote: »

I did the transaction for them, and paid the cash in, and then the "official" handed me £ 500 for my trouble.

And you took it??!!!!

Loughton_Monkey

purch wrote: »

......I did the transaction for them, and paid the cash in, and then the "official" handed me £ 500 for my trouble.....

Well done! Hope you invested it well.

But I've done better. I'm in touch with a Nigerian official (could be the same one) who needs my help to unlock a frozen legacy of £20 million.

I'm due to get £500,000 out of that and all I had to do was let them borrow a couple of passwords....

antrobus

The research by non-profit organisation Transparency International, using Land Registry and Metropolitan Police data, builds on a study last year by the Financial Times that found at least £122bn of property in England and Wales was held in offshore havens.

Given that the total value of all property is something in the region of £5trn, wouldn't that mean that only 2.5% of property was held offshore? And given that the majority of that will be perfectly kosher, after all even HMRC pays rent to an offshore company:), wouldn't that suggest that actually, very little is funded by 'dirty money'.

paddyrg

Couple of Le Carr! novels if anyone wants to understand more about money laundering - 'Our Kind of Traitor', 'Single and Single'.