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re: Let's talk money laundering
Posted on 12/7/18 at 1:21 am to Robin Masters
Posted on 12/7/18 at 1:21 am to Robin Masters
quote:
You set up a business that requires no inventory. Pool hall, carnival ride, arcade, ect. However many people come in just add some zeros. No inventory to purchase (which would yield a traceable indication of sales volume) so no way for govt to track actual sales.
“Yes mr taxman, 10000 kids came in this week and spent 100 each.” Boom $1000000 reported, taxed and now clean.
You’ll get caught. By your bank. Chances are your bank has legit businesses of those types as customers already. As such, if your similar businesses are bringing in significantly more money than your competitors then you’ll raise all sorts of red flags at your bank who will them report you.
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