Word: launder
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...their washday efforts, top Mafiosi can never launder more than a fraction of their illegal earnings. Thus a valued member of each clan is the "money mover," who specializes in finding ways of putting Mob money to work. Loan-sharking is a favorite because of its quick and huge returns. California officials estimate that Chicago mobsters have invested $50 million in Palm Springs bars, restaurants, hotels and real estate. As the Mafia defector said: "Money layin' around in your pocket don't do nothin' but get wrinkles...
However, says Princeton Theological Seminary's Bruce Metzger, chairman of the Revised Standard Version committee, "we are not going to change references to God where the masculine pronoun is in the text. We fool ourselves if we launder the language. We cannot rewrite history." Nor, it seems, is there any intention of rewriting the opening of the Lord's Prayer-or calling it something else...
...operating budget of about $3 million, and much of it is used for student scholarships. Later in the year, after the department's budgetary needs grew more certain, Stare would transfer more of the gift money into the endowment. The total effect of this method, Stare argued, was to launder the funds. "Hardly anyone in the department knows where their money is coming from, except me," he said last week...
...Japan. Right-wing Lobbyist Yoshio Kodama, a powerful operator at many levels of government and business, was indicted last week on charges of having established a Hong Kong "cover" company to launder illegal funds from Lockheed. Although 19 other top political and business figures, including former Premier Kakuei Tanaka, have been arrested on bribetaking charges in Japan, Kodama has so far avoided arrest on grounds of illness...
Gulf Oil, for example, used a Bahamas subsidiary to "launder" $12.3 million used for political purposes. The 3M Co. set up a Swiss bank account for the same purpose. Nor were the big multinationals the only influence seekers. Sanitas Service Corp., a Connecticut-based firm with 1975 sales of $83 million, passed $1.2 million to local politicians through a dummy concern founded by a former officer...