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Motley Fool Hidden Gems Investing

Money Laundering 101

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 26 June 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

Corruption is a trillion-dollar drag for investors. So why doesn’t it get more attention? Oliver Bullough is the author of “Butler to the World: How Britain Helps the World's Worst People Launder Money, Commit Crimes, and Get Away with Anything.” He joined Bill Mann, Maria Gallagher, and John Rotonti to discuss: - The “easy” process of money laundering - A look inside the business of corruption - Super yachts, volcanic islands, and opaque legal structures Hosts: Bill Mann, Maria Gallagher, John Rotonti Guest: Oliver Bullough Producer: Ricky Mulvey Engineers: Dan Boyd, Natasha Hall Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

And they exposed that the ownership of this super yacht, the Shaharazad, that it actually

0:05.0

belonged to Vladimir Putin.

0:06.2

It was previously the biggest super yacht in the world of unknown ownership.

0:10.2

And he got hold of the crew manifest.

0:12.4

Every single person in the crew was employed by the Russian equivalent of the Secret Service,

0:17.6

people who protect the Kremlin.

0:19.2

Everyone but one, the captain, was a Brit.

0:22.2

And that's the classic setup that you have.

0:24.0

These huge enterprises, you know, staff by people absolutely loyal to whoever the top

0:29.0

dog kleptocrates.

0:30.0

And then at the top, you have the butler.

0:33.2

I'm Chris Hill, and that's Oliver Bullo, author of the book, Butler to the World.

0:41.3

How Britain helps the world's worst people launder money, commit crimes, and get away with

0:46.5

anything.

0:47.5

Bullo recently joined a trio of Motley Fool Analysts, Bill Mann, Maria Gallagher, and John

0:52.8

Ritanti to talk about the surprisingly easy process of money laundering and how corruption

0:59.3

affects investors.

1:05.8

I just wanted to start by understanding how you got into this line of inquiry, how you

1:15.3

became interested in the super wealthy and how they hide their money and how they use the

1:24.0

laws of various countries around the world to protect themselves from the laws from

1:29.2

various, from other various countries around the world.

1:32.7

I like a good weird hobby.

...

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