Wednesday, January 28, 2015
Davos 2015: Nouriel Roubini targets Art Market for criticism
Regulation is needed in the global art market because it is vulnerable to money laundering, tax evasion, trading on inside information and price manipulation, according to one of the world's most respected economists.
"Whether we like it or not, art is used for tax avoidance and evasion," Prof Roubini said. "It can be used for money laundering. You can buy something for half a million, not show a passport, and ship it. Plenty of people are using it for laundering."
read more @ http://www.euro2day.gr/ftcom_en/article-ft-en/1296408/davos-2015-nouriel-roubini-targets-art-market-for.html
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics