#380 | Marc Rich: The King of Oil
English Learning for Curious Minds
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Mark Rich's Decision to Base His Company in Switzerland
Mark Rich and his business partners had an enviable black book of contacts. Over the space of a few years, he would supply tens of billions of dollars of commodities to everyone from apartheid to Africa. But it would be one deal in particular that would turn him from trading genius into public enemy number one. In 1981, federal prosecutors received a tip-off about a massive tax fraud at his company,. amounting to some $70 million, something like $200 million euros in today's money. The US government went after Mark Rich. He fled to Switzerland and was never able to return.
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