"Did @jonstewart commit fraud when he sold his penthouse for $17.5M?
NY listed its market value at $1.8M an AV at around 800k"
NOPE Not fraud, this is money laundering, baby!
Overvaluing a property to receive a loan is one thing.
Actually selling a property worth $1m for $17m?? Ha! It makes less sense than buying a Hunter Biden painting.
Is it a crime to sell something to a fool who is willing to pay far more than the real value? Sure it may be unethical, but isn't value based on what someone is willing to pay for it?
No, but surely anyone with that kind of money would be wise enough not to pay 14x the market value for a property. But it sure is a good way to shift money around.
"Did @jonstewart commit fraud when he sold his penthouse for $17.5M?
NY listed its market value at $1.8M an AV at around 800k"
NOPE Not fraud, this is money laundering, baby!
Overvaluing a property to receive a loan is one thing. Actually selling a property worth $1m for $17m?? Ha! It makes less sense than buying a Hunter Biden painting.
Is it a crime to sell something to a fool who is willing to pay far more than the real value? Sure it may be unethical, but isn't value based on what someone is willing to pay for it?
No, but surely anyone with that kind of money would be wise enough not to pay 14x the market value for a property. But it sure is a good way to shift money around.