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Started By
Message
Let's talk money laundering
Posted on 12/6/18 at 9:16 am
Posted on 12/6/18 at 9:16 am
It's a popular theme in movies and television (Ozark, Scarface, etc.) and it's been in the news.
How hard is it to launder money? It's a different issue if you have a constant stream of illegal money coming in (like the two movie/tv references above) but what if you just had a one-time large sum to deal with?
If it's a lower amount, say $3 million, you could safely just live on the cash paying daily expenses such as groceries, gas, etc., for years. Higher amounts become problematic.
How would you handle it if you had a one-time windfall in cash that you didn't want to pay taxes on? For the sake of discussion, let's make it $20 million dollars.
How hard is it to launder money? It's a different issue if you have a constant stream of illegal money coming in (like the two movie/tv references above) but what if you just had a one-time large sum to deal with?
If it's a lower amount, say $3 million, you could safely just live on the cash paying daily expenses such as groceries, gas, etc., for years. Higher amounts become problematic.
How would you handle it if you had a one-time windfall in cash that you didn't want to pay taxes on? For the sake of discussion, let's make it $20 million dollars.
This post was edited on 12/6/18 at 9:17 am
59
Posted on 12/6/18 at 9:16 am to Bjorn Cyborg
Buy a car wash
Posted on 12/6/18 at 9:17 am to Bjorn Cyborg
Give me 10 million of your 20 million and I'll tell you how.
Posted on 12/6/18 at 9:17 am to Bjorn Cyborg
quote:
How hard is it to launder money?
Not that hard.
quote:
How would you handle it if you had a one-time windfall in cash that you didn't want to pay taxes on? For the sake of discussion, let's make it $20 million dollars.
Claim enough legally to buy a cash business and wash the money through that cash business over time
Posted on 12/6/18 at 9:18 am to Bjorn Cyborg
Strip club, according to Ozark.
Great scenery, too.
Great scenery, too.
Posted on 12/6/18 at 9:18 am to Bjorn Cyborg
Just deposit it from those ATM that accept cash deposits so you don't have to talk to a teller.
Posted on 12/6/18 at 9:19 am to Bjorn Cyborg
quote:
f it's a lower amount, say $3 million, you could safely just live on the cash paying daily expenses such as groceries, gas, etc., for years. Higher amounts become problematic.
That is not money laundering.
Posted on 12/6/18 at 9:20 am to rocket32484
quote:
That is not money laundering.
Correct. That's the point. For that lower amount, you don't have to launder it. That's why I used $20 million.
Which also adds the question, would you launder it at all or just try to spend it without leaving tracks?
This post was edited on 12/6/18 at 9:22 am
Posted on 12/6/18 at 9:21 am to Bjorn Cyborg
"fine art" is a good place to start
Posted on 12/6/18 at 9:22 am to Bjorn Cyborg
Nice try, cop.
Posted on 12/6/18 at 9:24 am to foshizzle
I don't think "cops" are worried about money laundering with the broke dick motherfrickers on this board.
Posted on 12/6/18 at 9:31 am to theunknownknight
quote:
Buy a car wash
Bad idea. The IRS will monitor your usage of water, amount of soap and supplies purchased, etc. Generally speaking people are not smarter than IRS agents.
Posted on 12/6/18 at 9:33 am to Bjorn Cyborg
quote:are you saying you'd keep that money at your home? How would you protect it from theft, fire, etc?
If it's a lower amount, say $3 million, you could safely just live on the cash paying daily expenses such as groceries, gas, etc., for years. Higher amounts become problematic.
Posted on 12/6/18 at 9:34 am to Bjorn Cyborg
I’d open a few Mattress Firms
Posted on 12/6/18 at 9:35 am to Bjorn Cyborg
quote:
Which also adds the question, would you launder it at all or just try to spend it without leaving tracks?
This is also not money laundering. Spending money is not laundering. You need to invest in a business with a revenue stream. If not, you are just spending money and not washing the money.
Posted on 12/6/18 at 9:36 am to jefforize
Start a maid service, hire actual people, charge phantom clients, profit with clean money.
Posted on 12/6/18 at 9:37 am to MISSOURI WALTZ
quote:wrong. They aren't smart. That's a big part of the problem. Very costly to prove how ignorant they are. My wife gets paid a lot to correct them.
Generally speaking people are not smarter than IRS agents.
Posted on 12/6/18 at 9:37 am to Bjorn Cyborg
I know a guy who can help you out. Ask for Steve.
Posted on 12/6/18 at 9:37 am to rocket32484
quote:
You need to invest in a business with a revenue stream.
Start out with a small-ish business that deals mostly in cash... then use that to buy a bigger business.
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