Monday, May 11, 2015
Roubini Warning : Art is used for Money Laundering
The world of beautiful art can get ugly. Buying and selling top art is a business with lots of secrecy and little regulation. That makes it a possible destination for people trying to avoid paying taxes or even launder money. "There is a lot of behavior that is shady at best," economist Nouriel Roubini told CNNMoney's Cristina Alesci at the Milken Global Conference in Los Angeles.
"Some people use art, especially expensive art, as a form of money laundering," said Roubini,
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics