this post was submitted on 04 Jan 2024
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Folderol

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From Cambridge Dictionary:

unnecessary actions or words that have little meaning and make something seem more important or complicated than it really is

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Crypto hedge fund CEO may not exist; probe finds no record of identity (arstechnica.com)
submitted 10 months ago by Illecors@lemmy.cafe to c/folderol@lemmy.cafe
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Now that is how you run a proper scam.

Take notes, kids!

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[–] Illecors@lemmy.cafe 6 points 10 months ago (2 children)

CEO? No, I think the officer part requires a human being. But legal entities can own other legal entities. Not sure how deep one can make the rabbit hole go, though.

[–] Overzeetop@sopuli.xyz 3 points 10 months ago

This is why (well, one reason) we need corporate taxes to be gross receipts. Layers of shell companies would still be legal, but every layer re-applies tax to every dollar transferred between entities. Want corporate protections? Pay for every layer.

[–] mindbleach@sh.itjust.works 1 points 10 months ago

How deep is a circle?