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Detailed text transcripts for TV channel - MSNBC - 20171031:15:33:00

the answer company. thomson reuters. you re back with velshi & rhule. money laundering with b it s a concept we ve all heard of. it was a plot point of 80s and 90s movies. it features heavy in the indictments of gates and manafort. how does money laundering work? let s go through it. first money is made illegally. it s dirty money. it could be drug sales, human trafficking, bribes, any ill-gotten gains. dirty money has to be laundered to become clean money. next comes placement. the money is transferred into some sort of legitimate business. sometimes a dummy corporation is set up like what the government alleges manafort and gates did. or it could be an existing business. but one where legitimate records are not maintained. imagine a cash-only business where it would be hard for authorities to trace how much

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