Remember The Rich Kids Of Instagram account Tumblr, which basically went around Instagram collecting pictures that lots of rich kids were posting of their completely ridiculous lives? You know like heading out to the club and spending $10,000 in one night, or partying on daddy’s private yacht or private plane or whatever? Go on, take a look now if you missed it the first time round.
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Anyway, it turns out that whilst making everyone else in the world insanely jealous and looking like complete dickheads themselves, the Rich Kids Of Instagram have actually served another purpose too, and that’s providing evidence for their parent’s tax evasion. Nice one idiots.
Cybersecurity firms are stating that they use evidence from social media in 75% of their litigation cases, with Oisin Fouere – managing director of K2 Intelligence in London – saying that it has increasingly become their first port of call in investigations. Daniel Hall – director of global judgment enforcement at Burford Capital – said that it wasn’t usually the millionaires themselves who his firm would target via social media, but more likely a child or employee that is a little too snap happy.
Both Fouere and Hall have recently made some pretty big acquisitions due to social media: Fouere was able to track down a $25million yacht of an opponent who previously had said he had no assets, whereas Hall was able to acquire a private jet after the fraudster who he was tracking’s son posted a picture on Instagram of him and his dad in front of it. Smooth.
Unfortunately, this might not be the case for long as one smartass named Jordan Arnold at K2 Intelligence has already seen a way he can cash in on this by setting up social media policies in a code of conduct for the super rich, to make sure that they don’t get caught out like this again. Spoil sport.
However, I’m pretty sure that we can always rely on the ego of people with a bunch of money to get the best of them, so I’m sure we’ll be hearing more about how they got too big for their boots and baited up their parents’ dodgy tax dealings for a long time.
Get a load of the Rich Kids of Russia Instagram HERE.