Bloomberg Talks to John Moscow about Auction House Loan Process

News / July 28, 2016

Partner John Moscow is quoted in an article published July 28, 2016, by Bloomberg. The article, “An Auction House Learns the Art of Shadow Banking,” discusses the practice of some auction houses making millions of dollars of legal loans outside the regulated financial system. Such loans raise concerns that such financing could facilitate money laundering. Moscow told Bloomberg, “The banks are under legal regulations not to give money to people who can’t explain where they got it. The auction houses don’t have that rule at this time.”

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