ESL Podcast 1008 - Money Laundering

to shut down - to put a company out of business so that it can no longer operate or make money

The local health department shut down the restaurant due to food safety violations.

to suspect - to think that something is true, especially that someone has committed a crime or done something bad, but be unable to prove it due to a lack of evidence

When Lucas was six, he began to suspect that Santa Claus isn't a real person.

legit - legitimate; real, valid, and justified

If the offer sounds too good to be true, it probably isn't legit.

front - something used to mask, hide, or obscure the true identify or purpose of someone or something

Heather has been acting nicer than usual lately, but it's just a front to get a job, because she heard we might be hiring.

money laundering - the process of taking dirty money (funds that have been obtained from illegal activities) and making them seem clean (obtained through legal activities), often by passing the money through a business or by breaking a large amount of money into many small deposits

The bank thought the new client might be involved in money laundering, so it called the FBI.

so-called - presumably; a phrase used to refer to something by its chosen name when one doesn't believe that name is appropriate or accurate; a phrase used to show one's disagreement with how something is referred to

Those so-called gifts are actually bribes so that the government inspectors will ignore the many problems here.

sham - something that is false or fake; something that is not what it appears to be

His declarations of love were a sham. He was actually just interested in her money.

dirty money - funds obtained from dishonest, secret, and illegal activities

How much dirty money is generated through illegal drug sales each year?

to legitimize - to make something legal, valid, official, and accepted

They've been living together for years. Their parents want to know when they're going to legitimize their relationship by getting married.

to evade - to avoid having or doing something, especially to escape having to do something

Students are always looking for ways to evade the rules on a university campus.

taxes - money paid to the government, often as a percentage of one's earnings or assets (valuable things one owns)

Don't forget to file both your federal and state taxes by April 15!

to circumvent - to find a way around something, especially a way to avoid having to do something or to avoid being covered by some rule or regulation

Is there any way to circumvent the company's rule that coworkers shouldn't date?

underworld - the hidden and disguised economy and society of criminals

As soon as Harold began selling drugs, he became part of the underworld.

organized crime - groups of criminals who work together in a disciplined, ordered way, like the mafia

The city is struggling to find ways to fight against organized crime.

drug lord - a very powerful person who sells illegal drugs and/or controls many people who sell illegal drugs

In the past few years, we've seen property values decline as drug lords have moved into the neighborhood, making the streets unsafe.

smuggler - a person who carries illegal goods or people across borders in a highly secretive way

The airport police use dogs to smell luggage as a way to help them catch drug smugglers.

racketeer - a person involved in illegal and dishonest business transactions, often when violent crime is involved

The police arrested a racketeer involved in bribery cases.

awful - terrible; horrible; very unpleasant

I will never go to that restaurant again. The food was awful!