Mentor Group Gold
They are using a Money exchange -> Bank account. They are stupid and Ignorant.Yeah, regarding the company formation and getting the company+personal bank accounts, there are no issues as everything is straight forward.
The actual issues are regarding the “methods” used to obfuscate the origin of the funds that will be received into those bank accounts.
Why should anyone obfuscate since we’re talking about legit coins bought when one btc was $500-$1000?
And that’s a big red flag since the people offering the setup are not willing to provide more details.
I mean, the setup involving that the payouts to be considered merchant payments by the local UAE banks is considered money laundering since those invoices will be fake and have nothing to do with a real business.
And not to mention that the risk is very high if you end up with some money laundering charges. Why risk that instead of paying taxes in your local country?
here’s a news article regarding money laundering charges in UAE (of couse, it says drugs and pakistan....but still)
The convicts, also involved in drug trafficking, have been jailed.m.khaleejtimes.com
PS: I think that people offering “solutions” on top of simple company formation services should provide more details because some people might end up regretting when something will go wrong.
Merchant Account -> Bank Account, there will Be no problem.
I am not an expert. That is just my input.