Even I am talking about today.
LITERALLY what Cytonn do. They sell off - plan which is JUST a concept. No physical building yet.
You pay them cash before the building has started construction or when it is just beginning. A promise of a cheaper price is given if bought before construction begins.
X gives money in 2019 before new notes
Building begins construction in Nov 2020. Voila you've also cleaned your dirty money. But what do I know.
"Cytonn. Cleaning your money since 2015."
PS - Please note I had said "Before the deadline person X hires a construction company and use that 50 million for
advanced payment of the construction.
VituVingiSana wrote:paulkimani wrote:Government announces deadline to convert old notes.
Person X has 50 million kshs (in old 1000 notes) under the bed - perhaps a few under the table deals. He can’t change the money because his salary and taxes won’t match his wealth with the under the table deals.
No law says you can’t pay construction companies with physical cash.
Before the deadline, person X hires a construction company and use that 50 million for advanced payment of the construction.
Now it’s up to the construction company, who obtained the money legally to change the old 1000. This won’t raise a red flag.
But what do I know.
That deadline passed about a year ago!
I understand the context about the buildings that were bring built in 2019 but I am talking about today (Nov 2020).