American Kleptocracy: how the U.S. created the greatest money-laundering scheme in history

American Kleptocracy: how the U.S. created the greatest money-laundering scheme in history

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  • Create Date:2021-11-16 09:51:18
  • Update Date:2025-09-06
  • Status:finish
  • Author:Casey Michel
  • ISBN:191448410X
  • Environment:PC/Android/iPhone/iPad/Kindle

Summary

An explosive investigation into how the United States of America built one of the largest illicit offshore banking systems in the world。


For years, one country has acted as the greatest offshore haven in the world, attracting hundreds of billions of dollars in illicit finance tied directly to corrupt regimes, extremist networks, and the worst the world has to offer。 But it hasn’t been the sand-splattered Caribbean islands, or even traditional financial secrecy havens like Switzerland or Panama that have come to dominate the offshoring world。 Instead, the country profiting the most also happens to be the one that still claims to be the moral leader of the free world, and the one that claims to be leading the fight against the crooked and the corrupt: the United States of America。


American Kleptocracy examines just how the United States’ implosion into a centre of global offshoring took place: how states such as Delaware and Nevada perfected the art of the anonymous shell company; how post-9/11 reformers watched their success usher in a new flood of illicit finance directly into the US; how African despots and post-Soviet oligarchs came to dominate American coastlines, American industries, and entire cities and small towns across the American Midwest; how Nazi-era lobbyists birthed an entire industry of spin-men whitewashing transnational crooks and despots, and how dirty money has now begun infiltrating America's universities, think tanks, and cultural centres; and how those on the frontline are trying to restore America's legacy of anti-corruption leadership ― and finally end this reign of American kleptocracy。


It also looks at how Trump’s presidency accelerated all of the trends already on hand ― and how the Biden administration can, and should, act on this tawdry inheritance。

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Reviews

Maggie Sermont

Wow! This book was so interesting, I learned so much。 We really need to close these loopholes。

Patricia Romero

How the U。S。 Created the WORLD’S GREATEST MONEY LAUNDERING SCHEME in HISTORYCasey Michel shows us the world of illicit offshore money schemes。American Kleptocracy looks at how the United States morphed into the center of global money offshoring。Our country has been at the center of this illicit game for far too long。 While our leaders decry corrupt regimes around the world, we are happy to take their money。If you want to start your own shell company go to Delaware。 Or Nevada。 Delaware will let l How the U。S。 Created the WORLD’S GREATEST MONEY LAUNDERING SCHEME in HISTORYCasey Michel shows us the world of illicit offshore money schemes。American Kleptocracy looks at how the United States morphed into the center of global money offshoring。Our country has been at the center of this illicit game for far too long。 While our leaders decry corrupt regimes around the world, we are happy to take their money。If you want to start your own shell company go to Delaware。 Or Nevada。 Delaware will let literally anyone set up a virtual shop。 Having managed property for a long time, most of my owner’s companies are LLCs in Delaware。 A state they don’t live in。 Soviet Oligarchs, African despots, the worst of the worst store their money here while their own people starve。 And when Trump came along it was a marriage made in greed。 Restrictions were released。 Laws made it easier to launder and hide money。Do we really know how much of our own country is owned by outsiders? Shocking。This was an excellent book that taught me a few new things。 The author has a way of breaking down a rather large topic and just saying, “Hey, this is what is going on!”。 He also talks about how our new President could proceed。Very well researched and written, this was a great read。NetGalley/November 16th, 2021, St。 Martin’s Press 。。。more

Mark

LJ 146 (10) October 2021

Britt

This book provides insight in to some of the systems that enable financial corruption and money laundering in the US。 It provides an excellent analysis of how shell corporations came to be and how they continue to be used today。 Much of the information was new to me and some a bit shocking。 The author did a great job of providing sources and evidence in the notes section for those that want to do their own digging。 The author does exhibit some bias and passion throughout the book but for me pers This book provides insight in to some of the systems that enable financial corruption and money laundering in the US。 It provides an excellent analysis of how shell corporations came to be and how they continue to be used today。 Much of the information was new to me and some a bit shocking。 The author did a great job of providing sources and evidence in the notes section for those that want to do their own digging。 The author does exhibit some bias and passion throughout the book but for me personally this didn’t detract from the overall message and information。 。。。more

Michael Hassel

American Kleptocracy by Casey Michel is an interesting and timely book describing who and how money is moved about globally。 What is frustrating and disturbing to learn is although most of the money is not stolen in the US, much of it is transferred into the US where it goes from dirty to clean money legally! Mr。 Michel is an Adjunct Fellow for the Hudson Institute’s Kleptocracy Initiative, and has contributed research pertaining to offshoring, illicit finance, and foreign interference to the Ge American Kleptocracy by Casey Michel is an interesting and timely book describing who and how money is moved about globally。 What is frustrating and disturbing to learn is although most of the money is not stolen in the US, much of it is transferred into the US where it goes from dirty to clean money legally! Mr。 Michel is an Adjunct Fellow for the Hudson Institute’s Kleptocracy Initiative, and has contributed research pertaining to offshoring, illicit finance, and foreign interference to the German Marshall Fund, the Human Rights Foundation, as well as others。 The money flows into the US with the assistance of US lawyers and set up in shell companies mainly in Delaware, South Dakota and Nevada, three states that have made it possible to set up an Anonymous Shell Company in less than one hour。 Some of the people described with vast sums of stolen money meaning over 1 billion dollars are from Equatorial Guinea and Ukraine。 In the case of Teodore Obiang now VP of Equatorial Guinea who among ways to “wash” his money bought up all the Michael Jackson items including the famous glove。 In this case the harm is mainly to the people of Equatorial Guinea who have lost much of the revenue that could be used to make the country more livable。 In the case of Ukraine, the oligarch Ihor Kolomoisky not only ransacked the Ukraine economy he and his cohorts purchase steel mills and office buildings in middle America which they ran into the ground but as Michel explains the money is now free and beyond the grasp of Ukraine while at the same time causing massive financial pain to hard working middle class Americans。 So the key point is it does impact the US and at this point we do not know how large this problem may be since all the money and who it belongs to is still hidden。 I believe this is an excellent book to begin to understand this issue and problem for America。 It is well written without technical jargon and will make you a bit more informed about an important issue for America。 。。。more

Ginger Hudock

This book details how extremely rich oligarchs from Africa, eastern Europe, or the middle east, often launder their ill-gotten gains through American institutions。 Anyone familiar with TV series such as Ozark or Billions will be familiar with such schemes。 Unfortunately these are not fiction, but are all too true。 The book also details some of the laws that have been put into place to help combat this money laundering, usually without a lot of success。 Towards the last part of the book, the auth This book details how extremely rich oligarchs from Africa, eastern Europe, or the middle east, often launder their ill-gotten gains through American institutions。 Anyone familiar with TV series such as Ozark or Billions will be familiar with such schemes。 Unfortunately these are not fiction, but are all too true。 The book also details some of the laws that have been put into place to help combat this money laundering, usually without a lot of success。 Towards the last part of the book, the author details real estate activities of Donald Trump and characterizes him as similar to the other individuals described in this book。 I am not sure about whether all of this is true or not, but the author takes some of his credibility away by lauding the Obama regime and talking about the "wonderful" changes that will be occurring under now-President Biden。 Unfortunately the fact that Joe Biden is compromised with Russia, China and the Ukraine because of the dealings of his son Hunter is ignored。 This book identifies a real problem, but the solutions the author proposes are not realistic 。I received a complementary copy from the publisher via NetGalley in exchange for an honest review。 。。。more