money paid offshore


Senior Member
Sweden Swedish
A couple buys a house in New York and start to refurbish it. Then it says: "It was the time of the revolution in Iran and the deposed Shah's senior treasurer made my husband an offer for the house that he simply could not refuse. A year after buying the town-house, it was sold at an enormous profit, and, as usual, the money was paid offshore somewhere."

There are two things I don't understand. Does "buying" refer to the couple buying the house or the treasurer? And what does "the money was paid offshore" mean in this context?

Thanks a lot!
  • bibliolept

    Senior Member
    AE, Español
    A year after the senior treasurer both the house from the narrator and her husband, he sold it at an enormous profit. Because the profit disappeared, presumably spirited away to a foreign bank account ("offshore"), this text suggests that the house was bought from the couple with official funds or that some sort of embezzlement or unethical behavior also took place when the house was bought by the treasurer.