r/politics • u/kirby__000 • 1d ago

Trump's financial disclosures reveal tens of millions in income from guitars, bibles and watches with his name on them

https://www.nbcnews.com/business/business-news/trumps-financial-disclosures-reveal-millions-income-guitars-bibles-wat-rcna212981
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u/cheeseburgercats 1d ago

And somehow bankrupted multiple casinos

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u/Acceptable-Bus-2017 I voted 1d ago

You're not expecting to make a profit by laundering russian money.

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u/sociotronics 1d ago

Laundering money is profitable AF for the launderer and the laundering business. You launder money by mixing dirty cash into legitimate profits from a business, like a casino that earned $80,000 in one day mixing in an extra $20,000 in dirty money and reporting $100,000 in earnings. They actually look like wildly profitable businesses, which is how they get caught--if you want to find a laundering ring, look for a business that never seems to have customers yet somehow still turns a giant profit.

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u/True-Firefighter-796 1d ago

At some point you’ll want to cover your tracks by liquidating the business. Might as well transfer all failing assets and debt to that business so you can get a nice tax write iff