What is meant by the phrases "source of funds" and "path of funds?"

Video Transcript

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It is important because many people have tried to invest funds that are compromised, either because they were not clean-sourced, they don’t have legal sources, or because the funds are clean and nice but they have been in and out of the account for so many times, they have so many different sources. You can never trace every dollar back. So think this way. If you had a dollar bill, you had a serial number on it. Can you tell me where it came from? If that dollar was invested in the project I have to show where that money comes from. So if it came from my father – it’s a great. How does your father get it? Or it came from a grandfather. Great. How did he get it? And I have to trace that as many times as possible, showing documentation transactions. We need to get money that’s clean and easy. Then we make that transaction as clean, as easy as possible. So get an immigration attorney who is experienced on the sourcing and tracing is very important from the get go from the beginning. I think is important because the easy gets hard and the hard gets easy. That’s my take on the source of funds.

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Presented by:
Paul Calixto, Principal Attorney, Law Offices of Paulo Calixto PLLC