Word: laundering
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...southern insurance companies. Gathering evidence won't be easy: Authorities were first alerted to Frankel's disappearance by firefighters summoned to his $3 million Greenwich home. There they found a burning file cabinet and two fireplaces filled with flaming documents. Frankel's paper trail, which included one note reading "launder money," also included personalized astrological charts answering such questions as: "Will I go to prison?" "Should I leave?" and "Will I be safe?" Default, as Shakespeare might have said, was in his stars...
...have ridden that dream harder or farther than Frankel. By the time police and fire fighters responded to an alarm at his arcadian Greenwich, Conn., mansion last month to discover smoldering file cabinets full of incinerating and incriminating documents--item one on his to-do list: launder money--Frankel had constructed a financial whiz kid's Xanadu, complete with 80 trading terminals, satellite dishes, a fleet of imported cars and a bevy of female retainers he had attracted by answering personal ads and trolling the Internet. In his $3 million residence and the adjacent $2.6 million house, both paid...
...turned his $3 million home in tony Greenwich into a warren of offices with electronic locks and nearly 100 computers, plus wide-screen televisions tuned to financial news channels. And like any true "Seven Habits" disciple, Frankel made lists of things to do, one of which was "launder money." Also seized were personalized astrological charts answering such questions as: "Will I go to prison?" "Should I leave?" and "Will I be safe?" So far, so good. In addition to the insurance money, Frankel may also have pocketed $1.98 billion from the St. Francis of Assisi Foundation, allegedly established...
...their appreciated stock to a limited partnership in exchange for a proportional interest in it. After seven years, the partnership dissolves and each partner redeems his interest "in kind." That means partners are given equal amounts of all the stocks in the fund. It's a nifty way to launder, say, 50,000 shares of General Motors into about 500 shares each of 100 different companies without having to sell and pay an immediate tax on the capital gain...
Hoffa contends that it was only the old allegations of scandal that caused his 1996 loss to Carey by a 16,000-vote margin. So his recent stump speeches hammer on the accusation that Carey knew of a plan to launder union funds through third parties and into his campaign coffers. "Either Ron Carey is a fool or a crook or maybe just a crooked fool," sniffs Hoffa. "One thing is certain--he has set the Teamsters back 20 years...