For years, through media reports, we've heard of people nabbed by the police over money laundering schemes popularly dubbed as 'wash wash'. Men and women who've been nabbed include top business men and women who live lavishly with unexplained sources of money or income. They end up with huge sums of money that must be disposed off to come back as clean money. But how does 'wash wash' work anyway? This article will therefore breakdown into details how these people steal and defraud the public funds.
Have you ever wondered why of late there has been a steady growth of car wash, high end boutiques and hotels? What happens is that, these top gold scammers and drug dealers, invest their monies in these businesses to have the money 'cleaned'. For example, in competitive market day, a car wash can serve up to 100 cars a day. Therefore the receipts should indicate 100 cars and their prices. The receipts will read 150 cars served therefore filling in the extra money garnnered from the extra 50 cars is cleaned and fed into the system.
These scammers also target churches and schools. During a fundraising event, they announce they will donate huge sums if money to the initiatives. For example a building in a church compound. The tender will be awarded to one of their companies that will be contracted to build the structures over high priced building materials and construction cost cost therefore feeding the money back to their accounts as clean money.
These sometimes use the government contractors to clean their ill gotten money. A contractor paid by the government for their work, is given huge cash money to do the projects by these scammers. When the contracts are signed the amount signed for seems higher than the actual amount used on the ground. The extra amount is therefore received as clean money.
These scammers also use celebrities to run their errands. A celebrity is given a huge sum of money to start a project of their own. From the project the scammers use these platforms to clean their monies with ease.
Be on watch for these scoundrels. Better make a little honest money than a huge sum of money that will give you sleepless nights.
Content created and supplied by: FelixOwuor (via Opera News )
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