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A comment on Uber used 50 Dutch shell companies to dodge taxes on $6B in revenue. Parent comment

Re:Uber used 50 Dutch shell companies to dodge taxes on $6B ... by applepple on Wednesday May 12, 2021 @08:12PM (#27136800)
Maybe revenue laundering using borrowed credit? I wouldn't be surprised if some day we discover that many corporations the tech space have been engaged in some kind of global credit laundering scheme using shell companies as a filter to systematically separate credit from debt in order to generate artificial revenue for big tech corporations... Money extracted straight from the big banks.

They should refer to this scheme as a 'Clam farming' because they just load up the shell companies with bank loans then extract the meat and toss away the shell.

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Re:Uber used 50 Dutch shell companies to dodge taxes on $6B ... by KirillPanov on Thursday May 13, 2021 @04:29AM (#27139801)
What kind of bank makes business loans without encumbering any collateral?
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Re:Uber used 50 Dutch shell companies to dodge taxes on $6B ... by applepple on Thursday May 13, 2021 @06:16AM (#27140490)
Why not just create intangible collateral out of thin air? E.g. crypto? Then you just use some of the credit to pump up the value of the collateral to meet the bank's expectation.
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Re:Uber used 50 Dutch shell companies to dodge taxes on $6B ... by KirillPanov on Thursday May 13, 2021 @08:03AM (#27141143)
That's called fraud. You would need to find an especially stupid bank.

You can certainly do that, but if you're wiling to commit crimes there are much easier ways to make money.

[ Parent | on HN ]