I am interested to find out if there is a federal law that states that a person/company may not finance a business in a foreign country if that business is illegal in the U.S. The example is I participate in a microfinance that loans to foreign countries. Occassionally there is a loan to a business which is illegal in the U.S. Does anyone have an answer to this question or a site where I might access this information. Thank you Bernice
Common sense would dictate that it would be illegal. However, US laws tend to say\mean one thing, but allow people to do another and still do it legally. I wouldn't trend into this due to issues that can arise with current laws or even future laws. I tried to search at the below site to find a direct answer and I couldn't. You may want to speak with an attorney who handles criminal and\or tax law.
http://www.usa.gov/Topics/Reference_Shelf/Laws.shtml
BuzGuy | Contributor | 4/4/2009 - 12:09 pm
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