{"id":1091887,"date":"2021-12-06T21:58:35","date_gmt":"2021-12-07T02:58:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1091887"},"modified":"2021-12-06T21:58:38","modified_gmt":"2021-12-07T02:58:38","slug":"white-house-flags-art-industry-for-money-laundering-while-permitting-hunter-to-sell-art-to-anonymous-buyers","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-flags-art-industry-for-money-laundering-while-permitting-hunter-to-sell-art-to-anonymous-buyers\/","title":{"rendered":"White House Flags Art Industry for Money Laundering While Permitting Hunter to Sell Art to Anonymous Buyers"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhite-house-flags-art-industry-for-money-laundering-while-permitting-hunter-to-sell-art-to-anonymous-buyers%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1091887&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/hunter-biden-joe-biden-artwork-getty-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">The White House flagged money laundering in the art industry on Monday as a point of corruption while allowing Hunter Biden to sell his artwork to anonymous buyers for as much as $500,000.<\/p>\n<p>The first report of its kind named the United States Strategy on Countering Corruption is geared towards&nbsp;<a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2021\/12\/United-States-Strategy-on-Countering-Corruption.pdf\">exploring<\/a>&nbsp;the ways and means&nbsp;\u201cgovernment officials abuse public power for private gain.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Though the White House\u2019s report specifically focused on the art industry as a \u201cmarket\u201d where financial crimes occur, it did not mention the Biden family\u2019s <a href=\"https:\/\/www.google.com\/url?client=internal-element-cse&amp;cx=partner-pub-9229289037503472:6795176714&amp;q=https:\/\/www.breitbart.com\/politics\/2021\/07\/30\/hunter-biden-dad-national-gallery-art\/&amp;sa=U&amp;ved=2ahUKEwjZ4Iq89s_0AhW8l3IEHcbOCds4CBAWegQIAhAB&amp;usg=AOvVaw2kpyGjAsD0oGEq9Pep6Jgn\">involvement<\/a> with corruption, such as Hunter\u2019s art selling scheme to investors while his father is president.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"8.0110497237569\">\n<p lang=\"en\" dir=\"ltr\">Hunter Biden proclaimed Thursday it is &#8220;courageous&#8221; to sell &#8220;art&#8221; to &#8220;anonymous&#8221; investors for $500,000.00. <a href=\"https:\/\/t.co\/spF9lcjsY9\">https:\/\/t.co\/spF9lcjsY9<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1421492615367757836?ref_src=twsrc%5Etfw\">July 31, 2021<\/a><\/p>\n<\/blockquote>\n<p>Hunter has reportedly <a href=\"https:\/\/www.google.com\/url?client=internal-element-cse&amp;cx=partner-pub-9229289037503472:6795176714&amp;q=https:\/\/www.breitbart.com\/politics\/2021\/10\/07\/report-hunter-biden-sells-five-art-75000-each-los-angeles-show\/&amp;sa=U&amp;ved=2ahUKEwjrzsLw-M_0AhWQhXIEHQYDDCgQFnoECAEQAQ&amp;usg=AOvVaw1LbN4AScGIZGGXeWDoPpL-\">sold<\/a> multiple pieces of art for at least $75,000 this fall to anonymous buyers, and the <em>New York Times<\/em>&nbsp;reported first lady Jill Biden has allegedly <a href=\"https:\/\/www.google.com\/url?client=internal-element-cse&amp;cx=partner-pub-9229289037503472:6795176714&amp;q=https:\/\/www.breitbart.com\/politics\/2021\/08\/13\/jill-biden-displays-hunter-bidens-art-taxpayer-funded-white-house-office\/&amp;sa=U&amp;ved=2ahUKEwjZ4Iq89s_0AhW8l3IEHcbOCds4CBAWegQIBRAB&amp;usg=AOvVaw3ODzGyk-8-ezW4Q2inXEwQ\">displayed<\/a>&nbsp;Hunter\u2019s artwork in the White House.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The White House has <a href=\"https:\/\/www.google.com\/url?client=internal-element-cse&amp;cx=partner-pub-9229289037503472:6795176714&amp;q=https:\/\/www.breitbart.com\/politics\/2021\/07\/10\/white-house-hunter-biden-has-right-sell-artwork-anonymous-buyers-500k\/&amp;sa=U&amp;ved=2ahUKEwjrzsLw-M_0AhWQhXIEHQYDDCgQFnoECAUQAQ&amp;usg=AOvVaw2TMNu9JiAjUYQMH4l5fsUr\">defended<\/a> Hunter\u2019s scheme as&nbsp;<a href=\"https:\/\/www.nytimes.com\/2021\/07\/08\/us\/politics\/hunter-biden-art-sale.html\">consistent<\/a> with&nbsp;\u201cthe highest ethical standards.\u201d Nevertheless, the report flagged the following about the art industry\u2019s criminal pliability:<\/p>\n<blockquote readability=\"13\">\n<p>The markets for art and antiquities\u2014and the market participants who facilitate transactions\u2014are especially vulnerable to a range of financial crimes. Built-in opacity, lack of stable and predictable pricing, and inherent cross-border transportability of goods sold, make the market optimal for illicit value transfer, sanctions evasion, and corruption.<\/p>\n<\/blockquote>\n<p>The art industry\u2019s corruption is vast. Art&nbsp;\u201ccan be hidden or smuggled,\u201d the National Law Review <a href=\"https:\/\/www.natlawreview.com\/article\/art-and-money-laundering\">wrote<\/a>. \u201cTransactions often are private, and prices can be subjective and manipulated \u2014 as well as&nbsp;extremely high\u201d:<\/p>\n<blockquote readability=\"21\">\n<p class=\"rtejustify\">Once purchased, the art can disappear from view for years, even decades. A lot of the art bought at auctions goes to freeports \u2013 ultra-secure warehouses for the collections of millionaires and billionaires, ranging from Picassos and gold to vintage Ferraris and fine wine.<\/p>\n<p class=\"rtejustify\">The freeports, which exist in Switzerland, Luxembourg and Singapore, offer a variety of tax advantages because the goods stored in them are technically in transit. The Economist magazine reported that the freeport near the Geneva airport alone is thought to hold $100 billion (U.S.) of art.<\/p>\n<p class=\"rtejustify\">Once inside the freeport, the art can be sold privately and anonymously to other buyers. The art need never leave the warehouse after the private sale is completed.<\/p>\n<\/blockquote>\n<p>The White House report also outlined tax crimes as \u201cinterconnected\u201d acts of corruption with money laundering. \u201cFor example, a World Bank study of 25,000 firms in 57 countries found that firms that pay more bribes also evade more taxes,\u201d the report stated.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"10.267605633803\">\n<p lang=\"en\" dir=\"ltr\">In 2013, Joe Biden and Hunter Biden flew aboard Air Force Two to China. Ten days later, Hunter Biden&#8217;s firm scored a $1.5 billion deal with a subsidiary of the Communist Chinese government&#8217;s Bank of China. <a href=\"https:\/\/t.co\/HA4HJmKYFk\">https:\/\/t.co\/HA4HJmKYFk<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1437255548844576771?ref_src=twsrc%5Etfw\">September 13, 2021<\/a><\/p>\n<\/blockquote>\n<p>Hunter is <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/21\/report-hunter-biden-profited-joe-biden-losing-energy-race-communist-china\/\">reportedly<\/a> under investigation for tax and money laundering schemes, CNN first reported in 2020. The FBI is allegedly investigating whether Hunter and his associates violated \u201ctax and money laundering laws in business dealings in foreign countries, principally China, according to two people briefed on the probe.\u201d<\/p>\n<p>The White House&nbsp;<a href=\"https:\/\/www.state.gov\/summit-for-democracy\/\">issued<\/a>&nbsp;the report days before the Biden-Harris administration will host the&nbsp;virtual Summit for Democracy, which will focus on \u201cchallenges and opportunities facing&nbsp;democracies<em>.\u201d&nbsp;<\/em>Those in attendance at the event will \u201cinclude&nbsp;over 100 participants from governments, civil society and the private sector,\u201d the <em>Hill<\/em> <a href=\"https:\/\/thehill.com\/homenews\/administration\/584474-biden-administration-releases-new-plan-to-combat-corruption?rl=1\">reported<\/a>.<\/p>\n<p><em>Follow Wendell Huseb\u00f8 on Twitter&nbsp;<\/em><a href=\"https:\/\/twitter.com\/WendellHusebo?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\"><em>@WendellHuseb\u00f8<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The White House flagged money laundering in the art industry on Monday as a point of corruption while allowing Hunter Biden to sell his artwork to anonymous buyers for as &#8230;<\/p>\n","protected":false},"author":21,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1091887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1091887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1091887"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1091887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1091887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1091887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1091887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}