Crimes are done by people and mostly people do crime for money and not only poor people do crime for money but the billionaires also do crime for money and this crime is called as white collar crime which is done by rich and educated people in greed of money. Such type of crimes are done by many billionaires and in many many it become impossible to caught them.
Almost all the big industrial group and businessman have to many companies under them. They have one main company which is called as parent company and the owner of this company is shareholder of the company. Under the parent company there are subsidiary companies and every company have a board of director whether it is parent or subsidiary company. All the companies are connected with each other and funds are distributed across all the companies which makes them harder to track and also create a confusion between parent and subsidiary company and because of this cooperate lawyers and financial consultants makes money as they helps to understand all the structure.
After this shell companies come and this name mostly come out when frauds are done by company. This companies are very beautiful from outside but from inside it is completely hollow and these companies are opened mostly for financial maneuver, there is no employees in them, no operation in them and also no office base in them and the name of this company is chosen completely different from the main company so that authority didn't find any connection between them. There is an example from India of Nirav Modi on which there is an objection of bank fraud of $2 Billion dollar at Punjab National Bank and according the investigation by Enforcement Directorate, Nirav Modi have 15 sell companies and in Hing Kong there was 5 shell companies of Nirav Modi which receive fund of almost $1.25 Billion on the name of export, import. In the world there are many countries and territories in which it is very easy to open a shell company as in such countries and territories it is not necessary to write name of beneficial owner in any document according to the rules. Mostly billionaires used these shell companies for tax avoidance. There are many countries like Hong Kong and Switzerland in which companies didn't have to pay any cooperate tax and in this British Virgin Islands, Cayman Islands and Bermuda are also included.
Most of the businessman after frauds found in London and behind this there are many reasons like the language which is used in London is English which is adaptive and other is also security but the main reason is law as it is very tough to take someone our from the UK for extradition because according to the law of UK there are many conditions for this like Human Rights condition but if it proved in the UK court that the accused will get free trail in the country then it become possible to take back that person to the country.
.
.
.
Stay Tuned With CONICVISION.
0 Comments