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

Reddit

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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