I found another great story that "slipped under the radar" for normal media outlets. Some 8,000 high-end luxury cars are stranded at the Belgium port of Zeebrugge. There are indications of a similar collection of unshipped luxury cars at a major Dutch port. Here is an excellent link:
https://luxurylaunches.com/
Very affluent Russians paid hard cash to buy these 8,000 or more luxury
cars. Now the cars are stuck. Sanctions have stopped their shipment. I'm sure
that the buyers have received a legal notice with wording like:
"We have probable cause to believe that the funds used to
purchase your vehicle were the fruit of illegal activity. Before we can release
your car, we will require documentary proof that the funds for this purchase
were lawfully obtained and properly disclosed to local taxation
authorities."
Corruption and a phenomenon called kleptocracy are a way
of life in Russia. Before the Ukraine war, European authorities knew that
illegal money was being used by Russians to purchase luxury cars, houses, etc.
They turned a blind eye rationalizing that it was not their problem. Now it is
their problem.
Anytime you get a notice like this concerning the seizure of an asset of
yours, "you're in for the hassle of your life." The legal fees,
accounting fees, etc., can easily run into a cost of hundreds of thousands of
dollars. Complicating matters worse is that any car buyer will have to get
certified translations of a lot of documents in Russian into English. One’s
legal bill would far exceed the value of the asset.
Most likely, most of these car purchasers used illegal means to obtain
the funds for these cars. There could be a few people who worked hard and
honestly to get the funds to buy the cars. Their hard-earned money is gone.
Eventually, these luxury cars will be sold and the money spent on
armaments for or rebuilding Ukraine.
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