Chapter 722: The Wang Family's Secret

I guess if I stay silent, this guy could talk all day; it seems that to make a splash in the system you have to be able to speak and dare to speak.

This Hao Tao has exactly that capability.

I shouted angrily, "Shut up, Hao Tao, enough! Tell us how you became the Wang Family's White Glove overseas. I'm more interested in that."

"As for that, I advise you not to think about it; hearing too much is bad for you all. The Wang Family doesn't want people to know too much," Hao Tao said, deliberately holding back.

"You motherf***er, cut the crap. While I'm still willing to listen, if I stop wanting to, you won't even get a chance to speak," I said angrily.

Seeing my anger, Hao Tao hesitated.

Ding Li said, "Speak or not, if you don't, I'll use the knife."

After speaking, he brandished the knife to intimidate Hao Tao.

Hao Tao now looked at me,

"Big brother, give me a cigarette."

I pulled out a cigarette and gave it to Hao Tao,

Ding Li lit it with a lighter.

After Hao Tao took a drag,

"I'll have a sip of water now."

"Ding Li, pour him some water," I said.

Ding Li poured a glass of water for Hao Tao,

handed it to him and he drank it all,

"Dammit, you smoked, you drank. Speak up now."

"Otherwise, I'll really f***ing beat you," Ding Li said, looking at Hao Tao.

Hao Tao nodded, cleared his throat, and said,

"Big brother, if you want to hear, I won't hold anything back; after all, there's nothing for you to know."

"I want to ask you, what do corrupt officials most want to do."

Ding Li shook his head, "I'm not an official, I don't know. Speak quickly."

"It's about finding ways to launder money, turning the illegal into legal.

Otherwise, embezzled money can only be hidden at home, not shown publicly.

Think about it: having that much money but not daring to spend it.

And it could give someone a foothold to catch you for crimes.

That's so painful.

Many corrupt officials can't sleep, mainly because of the anxiety over their money.

They'll try every method to make their money legitimate."

Ding Li said,

"That's simple—just buy a house. A house costs how much? Turn it into real estate, keep it somewhere safe, and when you retire just sell the house and you're done."

"Heh, hearing that shows you don't understand the details."

They don't lack houses. Once you reach a certain status, property is no issue; in fact, too many properties become a hassle.

With networked information, a quick check reveals how many properties you own. Buying houses under someone else's name easily leads to disputes.

A southern official used his mistress's name to buy multiple properties, which led to lawsuits between the two families.

Later it was reported upward and got investigated.

"Property isn't safe," Hao Tao explained smugly.

"Then what to do? Property won't work."

"Keeping cash on hand also won't work; it's a real hassle," Ding Li lamented.

"That's why they're anxious,

but they have a method: they try every way to move the money out.

As long as it's moved out, they don't fear investigation.

Transfer it to foreign accounts.

Here, foreign‑exchange controls are strict; individuals have limits.

They use Underground Money House to transfer,

the Underground Money House takes a 40‑60 split,

ten thousand yuan becomes six thousand once sent abroad.

The Underground Money House moves money via gambling,

casinos near Xianggang usually have dedicated Chip Washers.

They transport corrupt officials' cash to the casino, then you lose it to the casino,

and the casino transfers your money to foreign accounts.

Of course, fees are required.

Why do some big shots lose a hundred million in one loss at the casino? There's a reason.

Ordinary low‑level folks launder money this way.

The Wang Family, however, despises this method; they launder money through overseas investments.

They set up overseas companies to invest in foreign projects.

They try every way to clean the money; overseas projects dry up in two or three years.

This is only the first step of their laundering,

because abroad there's no proof of legitimate income, the money becomes black money, untaxed. Black money is illegal and risks confiscation.

Western society is a country with a sound legal system, but these laws only serve the rich.

Once overseas, someone will make this black money legal.

I am one of them.

Overseas art investment,

It can avoid taxes, and also not ask about the source of funds.

This is a loophole they intentionally opened in their law,

In order to let those big shots' money become legal.

And make it public.

Why do many Western capitalists build museums,

That is because art investment is one of the important channels for protecting assets,

And there are charitable foundations, etc., which is another way.

Anyway, under the protection of the law, they will make their own money legal.

The price of a work of art is hard to estimate,

Some say it's worth over a hundred million, some say it's worthless, it's nothing.

There is a lot of room for manipulation here.

Cultural relics are the same.

Especially some cultural relics can easily exceed a hundred million.

Recently, in the auction market, our cultural relics have been very hot,

The main reason is that we have more rich people here,

I've said all this, but I still haven't talked about the Wang family's matter.

The Wang family, domestically, collects some treasures,

Then they have smuggling gangs smuggle them out.

Wait for the right time to take them out and auction them."

"I didn't expect the Wang family could still smuggle treasures." I said.

"Big brother, there's a lot you wouldn't expect.

After the Wang family smuggles the treasures overseas, they will contact the cooperating auction house, letting the auction house hype and auction the treasures.

Then there will be people following the trend and driving up the price.

"One item can increase dozens of times." Hao Tao said.

"Then the Wang family has made a fortune." Ding Li said.

"Sigh, they use their own money to buy their own things. Understand?" Hao Tao said.

"Using their own money to buy their own things, why is that?" Ding Li asked, not understanding.

"In order to make the money legal, they take the black money laundered overseas and need a method to make it legal—that is the auction house.

"They use their own money to buy their own treasures,

"which can turn this money into legal income, and investing in art enjoys tax protection.

"Illicit money becomes legal,

"and those treasures can also be hyped to a high price.

"If they don't need them, they can sell them anytime.

"Two birds with one stone. The Wang family has also invested in considerable real estate overseas, and they also have a manor overseas.

"The reason I can return to the country is that Wang Ge values me,

"I handled all their capital operations for them, and made no mistakes.

"Thus, after Wang Ge recognized my ability,

"he let me return to the country,

"He wants me to operate the building materials and real estate industries domestically.

"Then siphon off some money.

"Huaihai is a famous heavy industry base.

"It is not yet within the Wang family's sphere of influence.

"Wang Ge's intention is, after taking Huaihai, to then move into Zaocheng and seize control of Da Heng Group.

"Using this advantage, further expand the industry.

"As of now, only these two industries yield high profits; other industries don't.

"What Wang Ge currently operates are all underground industries, and these things cannot be brought to the table.

"He also wants to legitimize the industry." Hao Tao said proudly.

"He told everything he knew.

"This guy has a bit of intention to show off.

"Wang Ge cooperating with such a person is really beyond words.

"The Wang family's matter, I've figured it all out. I was saying, the Wang family patriarch only collects those treasures; now I understand.

"They take them abroad, launder them, go through a process, and everything becomes legal. Damn. I cursed in my heart.