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Bjorn Cyborg
Member since Sep 2016
8384 posts

Let's talk money laundering
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.

This post was edited on 12/6 at 9:17 am


theunknownknight
LSU Fan
Baton Rouge
Member since Sep 2005
41271 posts

re: Let's talk money laundering
Buy a car wash


saint tiger225
LSU Fan
San Diego
Member since Jan 2011
11836 posts

re: Let's talk money laundering
Give me 10 million of your 20 million and I'll tell you how.


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570
Mingo Was His NameO
LSU Fan
318
Member since Mar 2016
8903 posts

re: Let's talk money laundering
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


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521
Norbert
LSU Fan
Member since Oct 2018
329 posts

re: Let's talk money laundering
Strip club, according to Ozark.

Great scenery, too.


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260
OysterPoBoy
LSU Fan
BR
Member since Jul 2013
12339 posts
 Online 

re: Let's talk money laundering
Just deposit it from those ATM that accept cash deposits so you don't have to talk to a teller.


rocket32484
LSU Fan
Member since Jan 2008
1302 posts

re: Let's talk money laundering
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.


Bjorn Cyborg
Member since Sep 2016
8384 posts

re: Let's talk money laundering
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 at 9:22 am


jefforize
New Orleans Saints Fan
Member since Feb 2008
38162 posts
 Online 

re: Let's talk money laundering
"fine art" is a good place to start


foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
40020 posts

re: Let's talk money laundering
Nice try, cop.


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Bjorn Cyborg
Member since Sep 2016
8384 posts

re: Let's talk money laundering
I don't think "cops" are worried about money laundering with the broke dick motherfrickers on this board.


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730
MISSOURI WALTZ
LSU Fan
Wolf Island, MO
Member since Feb 2016
345 posts

re: Let's talk money laundering
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.


arcalades
USA Fan
USA
Member since Feb 2014
5645 posts

re: Let's talk money laundering
quote:

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.
are you saying you'd keep that money at your home? How would you protect it from theft, fire, etc?


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50
TypoKnig
Michigan Fan
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Member since Aug 2011
7565 posts

re: Let's talk money laundering
I’d open a few Mattress Firms


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580
rocket32484
LSU Fan
Member since Jan 2008
1302 posts

re: Let's talk money laundering
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.


TheDeathValley
LSU Fan
Baton Rouge, LA
Member since Sep 2010
8512 posts

re: Let's talk money laundering
Start a maid service, hire actual people, charge phantom clients, profit with clean money.


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441
arcalades
USA Fan
USA
Member since Feb 2014
5645 posts

re: Let's talk money laundering
quote:

Generally speaking people are not smarter than IRS agents.
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.


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130
sleepytime
Member since Feb 2014
2091 posts

re: Let's talk money laundering
Crypto currencies


TheFonz
LSU Fan
Somewhere in Louisiana
Member since Jul 2016
9362 posts
 Online 

re: Let's talk money laundering
I know a guy who can help you out. Ask for Steve.



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380
terd ferguson
USA Fan
Darren Wilson Fan Club President
Member since Aug 2007
99072 posts
 Online 

re: Let's talk money laundering
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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