eBayisajoke has been investigating eBay Inc for many years now. This includes auction fraud, title property fraud, Racketeering and Money Laundering. Their business dealings in Real Estate would be a whole nother show if we dug into it. eBay’s 10-K annual report filings.
I know the scam their pulling but it would take literally a 10 page article to explain it. I liken the scam to what is called a “301 Exchange in the Real Estate game!”
eBay acquires website domains and other online companies and then they run to the banks and say they need 100M to get the site running the way they want which may include advertising and marketing. The bank loans them say 100M interest only for up to three years, and eBay Inc pays themselves bonuses out of it and other things. Loans Can’t be Taxed by the IRS because they took the money as a loan from their bank. Taking bank loans to buy and sell e-businesses work’s just like Real Estate. What banks do you would be amazed. Below our friend Ben Mallah explains how high end investors use banks to make their profits. The same thing happens when companies like eBay Inc buy other companies using tax free bank loans to pad their pockets.
They either wanted to put CarGiGi out of business or maybe they actually have plans for the domain. eBay knows they can get some nice profits from vehicle listings. eBay Inc may be outsourcing site upgrades and functionality, but I think they are preparing to move eBay Motors over to this domain eventually. Let’s hope more people in 2020 won’t be defrauded out of their money. Seems eBay Inc Russians will try anything on the American public to steal from them!
They then pop the site up and run it for 3 years or more, then sell it to someone looking to pay a profit for it, that money they get there is taxable only if they don’t 301 it, eBay simply finds another company to acquire worth their original loan like they did before, then they take another loan out for 100M again and pay themselves, and the cycle repeats. (only using 100M as an example number) here. They also take out these loans as interest only loans for up to 3 years. The profits they earn on acquiring internet companies (domains) gets paid back from other people’s money. This is how you avoid paying taxes on large sums of money and at the same time line your pockets.