Quote:
Originally Posted by Pornflix
Yep.
12 days after creating it and probably paying $7.99 for it he gets an offer for $44,098?
And its not even a good domain.
Not to mention the person selling it joined Sedo just right before getting the offer.
I guess 15% in broker fees is a cheap way to clean ones money  |
Might be money 'laundering'.
Let's say you have made a lot of money online and always put it in an offshore bank account, but now you need some money in your country (where you never paid taxes for your income) to buy a nice car or house or something. You don't want to simply wire money from your offshore account to your personal bank account, so what you do is register a domain with your personal contact info. Then create 2 accounts on Sedo. Put the domain for sale in one account, and with your other Sedo account make a huge bid.
Then when the domain is sold (to yourself), you wire the money from your offshore account to Sedo. And Sedo will wire it to your personal account (minus their fees). And if the tax authorities ask, you can just say you sold a domain. You might still have to pay tax if they see it as 'income', but it's a good way to get some money in your personal account without any leads to your offshore stuff.