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How does money laundering work? - Delena D. Spann
Learning Stats
CEFR Level
Difficulty
Subtitles (82 segments)
As one of the most notorious gangsters in history,
Al Capone presided over a vast and profitable empire of organized crime.
When he was finally put on trial,
the most he could be convicted of was tax evasion.
The nearly $100 million a year,
that's 1.4 billion in today's currency,
that Capone had earned from illegal gambling,
bootlegging,
brothels,
and extortion,
would have served as evidence of his crimes.
But the money was nowhere to be found.
Capone and his associates had hidden it through investments in various businesses
whose ultimate ownership couldn't be proven,
like cash-only laundromats.
In fact, those laundromats are part of the reason for the name of this activity,
money laundering.
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