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American Kleptocracy: How the U.S. Created the World's Greatest Money Laundering Scheme in History Kindle Edition
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A remarkable debut by one of America's premier young reporters on financial corruption, Casey Michel's American Kleptocracy offers an explosive investigation into how the United States of America built the largest illicit offshore finance system the world has ever known.
"An indefatigable young American journalist who has virtually cornered the international kleptocracy beat on the US end of the black aquifer."
—The Los Angeles Review of Books
For years, one country has acted as the greatest offshore haven in the world, attracting hundreds of billions of dollars in illicit finance tied directly to corrupt regimes, extremist networks, and the worst the world has to offer. But it hasn’t been the sand-splattered Caribbean islands, or even traditional financial secrecy havens like Switzerland or Panama, that have come to dominate the offshoring world. Instead, the country profiting the most also happens to be the one that still claims to be the moral leader of the free world, and the one that claims to be leading the fight against the crooked and the corrupt: the USA.
American Kleptocracy examines just how the United States’ implosion into a center of global offshoring took place: how states like Delaware and Nevada perfected the art of the anonymous shell company, and how post-9/11 reformers watched their success usher in a new flood of illicit finance directly into the U.S.; how African despots and post-Soviet oligarchs came to dominate American coastlines, American industries, and entire cities and small towns across the American Midwest; how Nazi-era lobbyists birthed an entire industry of spin-men whitewashing trans-national crooks and despots, and how dirty money has now begun infiltrating America's universities and think tanks and cultural centers; and how those on the front-line are trying to restore America's legacy of anti-corruption leadership—and finally end this reign of American kleptocracy.
- LanguageEnglish
- PublisherSt. Martin's Press
- Publication dateNov. 23 2021
- File size2.1 MB

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Review
"Brilliantly clear." ―Anne Applebuam, The Atlantic
"Fluid, coherent and entertaining." ―The Economist
"Michel masterfully recounts the tragicomic outcomes when outré autocrats meet serviceable financial and legal systems....deserve(s) praise for going beyond moralising and pointing out how an industry geared to enabling the corrupt is not just unsavoury but can hurt a country’s real economic prospects." ―Financial Times
"Michel's diligent dissection is...a capable, eye-opening account of laissez faire financial laws and practices that serve the interest of criminals alone." ―Kirkus Reviews
"A blistering account of how greed, deregulation, and deliberate avoidance have enabled dictators and drug cartels to launder their illicit profits in the U.S....Through rigorous research and cogent prose, Michel builds a persuasive case that the influx of unregulated money decimates America’s industrial regions and poses a grave threat to democracy. This is a stunning portrait of avarice run amok." ―Publishers Weekly
"Michel’s clear prose helps make a complicated subject comprehensible, and leaves readers with some hope that financial corruption may not be so inevitable after all." ―Booklist
"[Michel] is a masterful storyteller who grips readers with truthful and disturbing accounts of outlandish schemes...eye-opening and comprehensive." ―Library Journal
"Michel, a dogged investigative reporter, is as knowledgeable as they come on financial corruption in and around the United States. In American Kleptocracy, he brings it all together....Michel makes a convincing case that there has never been an illicit financial system as robust and versatile as the one the U.S. has created, a shadow economy servicing financiers, lobbyists, old money and the newly corrupted." ―CrimeReads
"Clearly-written, compelling and fast-paced...a clarion call for citizens and those at all levels of government who have not yet realized that we need to clean up our own act to protect ourselves from predatory adversaries." ―Fiona Hill, senior fellow at the Brookings Institution
"Casey Michel brings home the extent to which the United States has fueled money laundering, corruption, and other crimes plaguing the world. His passionate writing comes from his outrage at what has gone on in our own backyard and his understanding of what is at stake, namely trillions of dollars hidden from our national treasury with help from U.S. banks. Readers will learn why it is critical for Americans to look inward and do more to stop the abuses here at home that are helping to power illicit finance around the world."
―Senator Carl Levin
"Remarkable and well-researched....Casey Michel shows how the US has taken the top spot at the ease of doing illicit business legally." ―Katharina Pistor, author of Code of Capital
"Remarkable and perspicacious...an important and eye-opening book." ―Bradley Hope, New York Times bestselling co-author of Billion Dollar Whale
"Casey Michel cuts through the spin, to reveal the inner workings of the American economy. His writing has shown again and again the subterfuges and secrecy at the heart of how money moves through the financial system, and does it with panache, wit, and a blessed aversion to jargon." ―Oliver Bullough, author of the international bestseller Moneyland: The Inside Story of the Crooks and Kleptocrats Who Rule the World
"Casey is the foremost journalistic voice in the fight against kleptocracy. No other individual is so consistently on the case and interested in both the actors and the possible policy responses. His knowledge of the existential danger posed by kleptocracy is bar none, and we rely on his work like no one else to inform policy."
―Paul Massaro, Congressional Policy Advisor, U.S. Helsinki Commission
"American Kleptocracy is essential reading to understand how the U.S. has become the global destination for dirty money. Michel exposes the international shell games that the super-wealthy and their professional enablers deploy to launder and stash cash. He exposes why this matters, as illicit funds disrupt local real estate markets and undermine honest economic activity." ―Chuck Collins, Institute for Policy Studies, author of The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions
"An indefatigable young American journalist who has virtually cornered the international kleptocracy beat on the US end of the black aquifer." ―The Los Angeles Review of Books
"In this vitally important book, Casey Michel follows the money. He shows us how, and why, so much of it ends up in American luxury real estate, hedge funds, startups, and shell corporations. Compelling true-life stories, carefully marshaled statistics, and careful analysis combine to make Michel’s book the must-read account of one of the key challenges of our time." ―Dan Nexon, Professor of Government and Foreign Service at Georgetown University and co-author of Exit from Hegemony
"Casey Michel has written a vivid, compelling account of the terrifying march of dirty money. His book helps us understand how some of America's abiding ideals―property, privacy, philanthropy, free markets, capitalism, even democracy itself―are being hijacked. American Kleptocracy should be read urgently by anyone who wants to preserve open societies and the rule of law." ―Tom Burgis, author of Kleptopia
"Casey Michel‘s book is a wake-up call: America has become the money laundering capital of the world. The book underlines: If you want to interrupt corrupt money flows you should start in the U.S." ―Frederik Obermaier, author of The Panama Papers
"A superb, read-it-immediately study of one of the darkest phenomena of our times." ―Ben Judah, author of This is London
"If the right person writes the right book, and enough of the right people read it, incredible changes can take place. Casey Michel has written such a book. In the right hands, it could spur policy shifts in the U.S. that would have global ramifications." ―Jasmin Mujanovic, author of Hunger and Fury
"Compelling and colorful....Casey Michel is one of the United States’ brightest emerging foreign policy thinkers―a scholar, journalist and policy expert who has spent years chronicling the rise of globalized corruption in meticulous detail. In American Kleptocracy, he provides the definitive account of the defining threat of our era―weaving together an irresistible narrative with a bold but pragmatic agenda for reform that can end America’s complicity in foreign corruption." ―Nate Sibley, Head of Hudson Institute's Kleptocracy Initiative
"Excellent...Michel’s genius lies in his narrative, which weaves together the development of U.S. financial secrecy and countermoves with actions in the United States of two of the world’s great kleptocrats." ―Anders Åslund, Just Security
"Rule-of-law democracies are engaged in a clash of civilizations against international criminals, kleptocrats, and corrupt politicians. Michel exposes the troubling role the U.S. has played in facilitating the dark economy and underscores the urgent need for transparency, reform, and accountability." ―Senator Sheldon Whitehouse
About the Author
Product details
- ASIN : B08R2KCQYD
- Publisher : St. Martin's Press
- Accessibility : Learn more
- Publication date : Nov. 23 2021
- Language : English
- File size : 2.1 MB
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Print length : 345 pages
- ISBN-13 : 978-1250274533
- Page Flip : Enabled
- 鶹 Rank: #425,376 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
About the author

I'm currently the Director of the Combating Kleptocracy Program at the Human Rights Foundation, as well as a writer, analyst, and investigative journalist working on topics ranging from kleptocracy, illicit finance, dark money, foreign lobbying, and foreign interference to the legacies of Russian and Soviet colonialism. My first book—AMERICAN KLEPTOCRACY: How the U.S. Created the World’s Greatest Money Laundering Scheme in History, out now from St. Martin’s Press—centers on America’s transformation into the world’s greatest offshore haven, and what that means for the rest of us. AMERICAN KLEPTOCRACY is one of the “best books to read to understand financial crime” (The Economist), “masterful” (Financial Times), “brilliantly clear” (The Atlantic), a “compact grenade of a book” (The Australian), and “make[s] the case that the world’s leading tax haven is America” (New York Review of Books).
I’m currently finalizing my second book, "FOREIGN AGENTS: How American Lobbyists and Lawmakers Threaten Democracy Around the World (also from St. Martin’s Press, and now available for pre-order)," which will reveal the devastating scope and impact of the foreign lobbying industry in Washington—and how American law firms, PR agencies, consultants, think tanks, universities, and more became foot-soldiers for despotic regimes around the world, threatening democracy both abroad and in the U.S.
I’ve testified in front of the Senate Judiciary Committee on kleptocracy and oligarchs, and I received my Master's degree in Russia, Eurasia and Eastern Europe Studies from Columbia University's Harriman Institute.
My writing has appeared in outlets like Financial Times, The Wall Street Journal, The Atlantic, Foreign Affairs, Foreign Policy, New York Magazine, Mother Jones, Vox, The New Republic, POLITICO Magazine, Washington Post, Sports Illustrated, Rolling Stone, Just Security, Teen Vogue, Bellingcat, NBC, CNN, The Spectator, ThinkProgress, Quartz, The American Prospect, The American Interest, Organized Crime and Corruption Reporting Project (OCCRP), The Bulwark, openDemocracy, The Guardian, Texas Monthly, The National Review, World Politics Review, Al Jazeera, Slate, GEN, The Daily Beast, Roads & Kingdoms, Talking Points Memo, EurasiaNet, Houston Chronicle, Jamestown, Moscow Times, Radio Free Europe/Radio Liberty, and Business Insider, among a host of other outlets.
Customer reviews
Top reviews from Canada
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Reviewed in Canada on February 6, 2025Verified PurchaseLecture obligée. Déstabilisateur. La réalité derrière les apparences. Merci.
- Reviewed in Canada on December 15, 2021Verified PurchaseA shocking and detailed account of American official tolerance, if not encouragement, of money laundering within the the USA. Most shockingly the book reveals that the American constitution was unwittingly designed to enable individual states to hide dirty money from any scrutiny whatsoever. Rhode Island was first to exploit that feature of the constitution, but Delaware is probably now the largest friend of kleptocrats.
- Reviewed in Canada on July 24, 2022Verified PurchaseMoney laundering is destroying affordable housing, eliminating jobs, endangering workers and leaving whole populations impoverished. We need laws making anonymity in real estate purchases and shell companies impossible.
Thank you for writing this book. I will be sending it to family.
Top reviews from other countries
- P. SchneiderReviewed in the United States on July 9, 2025
5.0 out of 5 stars Just as I had figured
Verified PurchaseYes, this country began with an oligarch, George Washington. This was only the beginning of kleptocracy. It has continued to this very day. Buying elections and resembling fascism is the continued climate of American kleptocracy.
- Jeff KayeReviewed in the United Kingdom on November 29, 2021
5.0 out of 5 stars Democracy or Kleptocracy?
Verified PurchaseThe alarming nature of kleptocracy is that it is the biggest danger to democracy. As Oliver Bullough has written, where the 20th century had communism and fascism, the 21st has kleptocracy.
Therefore, Casey Michel's excellent book is not just an alarm call against those exploiting their own countries to the tune of 100s of $billions (as if that was not bad enough) but, through the easy way such kleptos have found to launder their money in countries such as the USA, they undermine nations in receipt of their money.
This book has been excellently researched and a good read, if the sense of nausea that the examples of the many kleptocrats produce can be allayed, which is not easy. Example after example, from nations in Africa pillaged by the monsters that come to 'lead' them (Teodorin, Sassou-Neguesso and many others) to those in Eastern Europe that cruised in on the back of the break-up of the USSR and ransacked nations such as Russia and Ukraine, building billionaires whose funds were illicitly produced and found homes in the west.
"Illicitly" may not mean illegal in the country in which they were pillaged. Of course not! The laws in those countries were changed to suit the pillagers, much like Danegeld in Europe enabled the pillaging Danes to tax the countries they took over. However, countries such as the USA and UK enable these horrendously acquired assets to be laundered because they were not illegally obtained in the recipient countries. London's most expensive housing becomes bought up by Russians who acquired the money in ways that, if they were acquired in the same manner in London, would be illegal.
As Casey describes, the USA under Joe Biden is now turning away from the corrupt Trump era / error towards anti-corruption initiatives. These are well-described, but as is stated, depend on resourcing the initiatives and ensuring that the laws are sound. This is one, big step ahead of my country, the UK, where government, led by Johnson, is shown to be corrupting and where only by continuously being caught out is progress made towards fighting the huge inequities that are resulting. The UK has the best 'enablers' (lawyers, accountants, real estaters), many used by the kleptocrats. We also have many politicians only too willing to bow to the £'s offered that will, if allowed to prosper, progressively kill our democracy. Parliament has already become seriously tainted by corruption and London is its centre - which, along with the UK's Crown Dependencies and overseas territories, enable 39% of the world's money laundering each year accoring to the Tax Justice Network. This runs into $100bns per year!
So, this book should be read by anyone wanting to understand the horrors that democracy faces. It should be read by anyone (from anywhere) who gives a damn about how countries can be taken over by those who are already plundering their own nations and care only for money and power. This power is individualist and cares nothing for the vast majority of people who are outside it, who make up 99.99%, who are dependent on democracy and the proper use of power to benefit all people. It is that serious and this book highlights the problem at a critical time.
- ArmeReviewed in Australia on July 19, 2025
5.0 out of 5 stars A great book that shows how corrupt America really is
Verified PurchaseVery interesting read -> very apt for the kleptocracy that we are seeing in Trumps america. It is so on point and shows how the world really works for a very small percentage of people and it is frustrating to see how the average person gets screwed over by the rich and powerful.
- avid learnerReviewed in Australia on May 31, 2022
4.0 out of 5 stars interesting, scary, overly optimistic
Verified PurchaseThis book explains how extensive money laundering is in the US, and how it got that way. There is an amazing cast of characters, ranging from villians to heroes, with far more of the former than of the latter.
The duplicity of the US Government, including Congress, is very much on show. There have been a few victories, and the book lays out a possible plan to make more progress. In my opinion, the plan is much too general, much too difficult, and much too dependent on a shift in citizens' relationship to the government, which has been deeply, and perhaps fatally, wounded by Donald Trump and his greedy, selfish followers.