Hi folks.
I spoke to a fund manager in HK. I was told something interesting. He said that he accepts clients who have at least US$1m of deposit and basically the clients will send money to the sub-account of their fund management account. He will do all the KYC clearance instead of the bank. I asked him in a very direct manner. In that case, what is stopping him from becoming a money launderer? He said nothing stopping him. This is a regulated fund manager from a reputable jurisdiction and...
Crazy Idea - Use offshore broker/fund manager as bank account.
I spoke to a fund manager in HK. I was told something interesting. He said that he accepts clients who have at least US$1m of deposit and basically the clients will send money to the sub-account of their fund management account. He will do all the KYC clearance instead of the bank. I asked him in a very direct manner. In that case, what is stopping him from becoming a money launderer? He said nothing stopping him. This is a regulated fund manager from a reputable jurisdiction and...
Crazy Idea - Use offshore broker/fund manager as bank account.