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slackster
Stanford Fan
Houston
Member since Mar 2009
50614 posts

re: Let's talk money laundering
quote:

Crypto currencies
What good do they do? That's no different than simply spending the money.


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21
slackster
Stanford Fan
Houston
Member since Mar 2009
50614 posts

re: Let's talk money laundering
quote:

Start out with a small-ish business that deals mostly in cash... then use that to buy a bigger business.


You have to go into it knowing you're going to still lose a cut to Uncle Sam. If you accept that, your life is much less stressful.



Dire Wolf
Houston Astros Fan
bawcomville
Member since Sep 2008
24212 posts

re: Let's talk money laundering
buy a gas station casino, pay a few trusted truckers to blow some cash in there every time they stop. Slowly take the profits in

Do this at a few locations


teke184
LSU Fan
Zachary, LA
Member since Jan 2007
28424 posts

re: Let's talk money laundering
Get a cash business (laundromat, car wash, titty bar, whatever), and just pad your reported income over time to explain where the cash is coming from.

This works as long as there is volume to justify it.

If you own a do it yourself car wash in the Hood which gets no traffic, it’s hard to launder much without getting caught.


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60
slackster
Stanford Fan
Houston
Member since Mar 2009
50614 posts

re: Let's talk money laundering
A key part of this discussion is how you wound up with $20 million in cash. If it was from a legal undertaking, an argument can be made that the best thing you can do it is claim it appropriately and invest from there.

The main purpose of money laundering is not the avoidance of taxes but the avoidance of answering for how you came to acquire that money.


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430
brian_wilson
LSU Fan
Member since Oct 2016
2809 posts

re: Let's talk money laundering
It would be pretty easy. Buy a cash business and just start putting more $$ through it. Just increase the sales and put cash in it.

dry cleaner
car wash
bar
restaurant

Real estate is supposed to be relatively easy to launder money too. But you multiple cooperating parties to make that happen.


cas4t
New Orleans Saints Fan
Member since Jan 2010
61184 posts

re: Let's talk money laundering
Weed dispensary. Banks still can't work with these legitimate businesses due to it still being illegal on a federal level. These places have tons and tons of cash on hand.

eta but these places are still raided occasionally, so as soon as someone thought you might be laundering money, you fricked.
This post was edited on 12/6 at 9:56 am


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82
cas4t
New Orleans Saints Fan
Member since Jan 2010
61184 posts

re: Let's talk money laundering
quote:

It would be pretty easy. Buy a cash business and just start putting more $$ through it. Just increase the sales and put cash in it.



repair shops as well. Like an electronics repair shop for phones, computers, etc...some of these places today still don't accept credit cards


Mingo Was His NameO
LSU Fan
318
Member since Mar 2016
8961 posts
 Online 

re: Let's talk money laundering
quote:

buy a gas station casino, pay a few trusted truckers to blow some cash in there every time they stop. Slowly take the profits in


This is a terrible idea. The less people know the better


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90
teke184
LSU Fan
Zachary, LA
Member since Jan 2007
28424 posts

re: Let's talk money laundering
That’s actually a really good idea. Especially if you do the “clean your PC of malware” kind of work.

Anything that doesn’t involve actual product being sold / used as parts is a lot easier to fake than claiming 1000 repaired iPhones when you only bought the parts to repair 100.


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Bjorn Cyborg
Member since Sep 2016
8409 posts

re: Let's talk money laundering
Not sure where the disconnect is, but I understand this is not money laundering. That's why I said "would you launder it at all."

Just spending it would be an alternative to laundering, but risky and subject to raising red flags.


KiwiHead
LSU Fan
Auckland, NZ
Member since Jul 2014
8479 posts

re: Let's talk money laundering
quote:

For the sake of discussion, let's make it $20 million dollars.





Is this like you found a duffle bag full of cash or someone legit for services rendered gave you that cash?


cas4t
New Orleans Saints Fan
Member since Jan 2010
61184 posts

re: Let's talk money laundering
quote:

Anything that doesn’t involve actual product being sold / used as parts is a lot easier to fake than claiming 1000 repaired iPhones when you only bought the parts to repair 100.



exactly

no cameras, hand written receipts, etc

it'd take a lot of work to do that for 20M so you'd need a lot of these little shops.
This post was edited on 12/6 at 9:57 am


brian_wilson
LSU Fan
Member since Oct 2016
2809 posts

re: Let's talk money laundering
quote:

repair shops as well. Like an electronics repair shop for phones, computers, etc...some of these places today still don't accept credit cards


yeah, there is one of those places down the street from me. I have never seen anyone in it, but its been open for 20+ years.


MLCLyons
Member since Nov 2012
2614 posts

re: Let's talk money laundering
Open any cash business.


Jim Rockford
LSU Fan
Member since May 2011
65411 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.


You could get away with it if you kept it on that level, but almost nobody is that disciplined.

You also leave problems for your descendants with they find all that cash under the floor of pawpaw's shed. What are they supposed to do with it?


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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
28424 posts

re: Let's talk money laundering
My guess for this hypothetical is the A Simple Plan “we found bags full of ransom money that we’re keeping” scenario, where it isn’t something you can legally claim.


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cas4t
New Orleans Saints Fan
Member since Jan 2010
61184 posts

re: Let's talk money laundering
Laundromat too

the one I currently go to does not accept credit cards

come to think of it, they are probably laundering money


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41
olgoi khorkhoi
Bucknell Fan
priapism survivor
Member since May 2011
8803 posts

re: Let's talk money laundering
quote:

money laundering
quote:

How would you handle it if you had a one-time windfall in cash that you didn't want to pay taxes on?




Wait, what? You launder money when you do want to pay taxes on it. That's the point.


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130
cas4t
New Orleans Saints Fan
Member since Jan 2010
61184 posts

re: Let's talk money laundering
quote:

yeah, there is one of those places down the street from me. I have never seen anyone in it, but its been open for 20+ years.



now you know



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