Opinion | China’s role in America’s fentanyl crisis WashTimesOpEd
Money laundering by the triads uses quasi-legitimate real estate development, construction and financial companies. In one method, triad companies send drug funds to offshore bank accounts and use these deposits to secure mortgages for purchasing and developing property.
Another method of money laundering involves falsified contracts used to make drug cash look like legitimate real estate wealth. The buyers pay artificially high prices for property, but a much lower actual price is paid to a triad-linked seller. Casinos controlled by triads also play a role in money laundering. High-roller tables in Macao’s casinos cash out chips, with the proceeds used to buy global real estate and other corporate assets. Ill-gotten gains capitalize hedge funds in the U.S., which acquire assets in the free market. Investment banks and money transfer businesses are adept at shifting money to and from
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