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He added that most went on dummy companies and state-subsidised imports.
Mentions all the dummy companies he needed for this and how his agents bought up the property.
Last month came revelations of suspect accounting practices at Nippon Credit Bank, which hid massive losses in dummy companies.
Some more details on how the Knickerbocker Village was bought up by Fred F. French in dummy companies.
Anticipating the murky world of Enron and A.I.G., Kreuger pioneered off-balance-sheet entities, shunting debt to invisible firms and dummy companies.
By corruption and physical intimidation, Mafia-controlled firms took their share of public contracts, either directly or through subcontracts and dummy companies.
Similar(27)
Separately, prosecutors are seeking a criminal indictment for setting up what they consider a dummy company.
"If you do something like this, what you do is you set up a dummy company.
Since our payments into the dummy company match the bills, everything looks fine.
Ebbets and York set up a dummy company to buy the land and chose its name by opening a dictionary at random and seeing the word "pylon".
Safir then created a dummy company in Miami called the Spocko Corporation, which, was prepared to sell valuable communications hardware to Cuba.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com