this post was submitted on 08 Apr 2024
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It's more like committing fraud than anything I assume. I think the goal is loan yourself money and keep it in the trust. Then the trust has more assets than it really does by listing a fraudulent loan as accounts receivable.
You use that to get a real loan, then don't pay it back. You remove everything from the trust and try to claim there's nothing for the bank to take.
To be fair, it actually works if you're rich.
You would have to move the trust to another country though that's the part that makes it work making the money inaccessible. And the country that you pick has to be one that doesn't have an agreement with the United States so transferring it to Canada isn't going to work.
Also you have to be careful not to transfer it to a sanctioned country otherwise they'll get you on that.
If you are going to do this you have to be rich because you have to be able to pay an actual accountant that knows what they're doing, rather than just listening to some gibberish on Facebook.
Thanks Echo. Now play Resident Alien on Netflix and dim lights to 30 percent.
Understood, playing Frasier at 100%. Turning the lights off.