An Auction House Learns the Art of Shadow BankingBy
Lending by Sotheby’s tripled to $682 million in four years
Malaysian financier in money-laundering probe got a loan
A year before he got caught up in a U.S. money-laundering investigation, Malaysian financier Jho Low was looking to borrow more than $100 million without having to answer all the nosy know-your-customer questions required by U.S. banks such as JPMorgan Chase & Co.
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