Four men were arrested in Indiana for allegedly using shell companies to defraud nursing home patients in the senior communities where they were executives. They overcharged for drugs and other goods and received the extra money through a shell company. If a vendor questioned the inflated prices, the executives would move on to another company that would pay the prices they were asking. They reportedly used more than twenty shell companies to receive $5.5 million in kickbacks.
Shell companies are anonymous companies that can be used as vehicles for fraud and money laundering. Currently, no state requires the true owner of these companies to disclose their identity, making it difficult for law enforcement to track down criminals who hide behind them. They are used all over the country and the world to hide illicit funds and criminal activity. Jubilee USA believes in promoting transparency in the global economy and stopping corruption and crime that hurt the most vulnerable.
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