the sec predictably has been hands off on the facebook fiasco.
it's really easy to launder money in china.
how does an american ever get around paying u.s. taxes on the stock you sell here?
can he just give his money to his new chinese wife of 3 weeks?
i don't know.
what we do know is that he took a chinese bride the day after his ipo.
isn't that incredible coinidence?
then they went on a worldwide tour.
zuckerberg's cofounder, eduardo savarin, gave up his u.s. citizenship to basically avoid paying u.s. taxes on his profits from the recent facebook ipo. savarin is a boy from brazil, so he has been shopping around for a tax haven for a while and has cleverly docked in singapore.
zuckerberg chose china because they have ways to get around paying taxes to their home countries because of unique banking laws.
china and singapore are known as tax havens.
shanghai has become the capitol, at least for china, for all kinds of money laundering and secret business.
the mindset of the upper 1% of the 1% .................remember, levona helmsly famously remarked "the little people pay the taxes. we've got the infrastructure. we've got the lawyers."
savarin and zuckerberg....let's not forget mitt romney's accounts in switzerland and the cayman islands(more on that in another post)--it seems their whole goal is to avoid paying taxes to governments.
if you got married 3 weeks ago with all that money, would you want to give all of that money to your wife?
i'd love to see their prenuptial agreement they obviously have signed.
the advantage of having a chinese spouse is that there are many diferent ways to transliterate their names into english.
they can have many many accounts for the same person, depending on the way the name is spelled.
another thing they do in china, part of an old traditional method of banking, is that you don't always need a signature.
it's also legal to put a chinese character name on a personal stamp and use that creating accounts and for transactions.
in the case of priscilla chan zuckerberg, she could send any person into the bank to conduct a transaction with her stamp.
there are many ways to get around the chinese laws by having many many accounts in different names.
people in shanghai know this.
this is common knowledge in china for the many with new wealth.
the zuckerbergs were spotted in shanghai shortly after their marriage, perhaps more than for sightseeing and sampling the fine chinese cuisine.
zuckerberg tells obama he's cool with higher taxes