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Started By
Message
re: Let's talk money laundering
Posted on 12/6/18 at 9:43 am to sleepytime
Posted on 12/6/18 at 9:43 am to sleepytime
quote:What good do they do? That's no different than simply spending the money.
Crypto currencies
0
Posted on 12/6/18 at 9:46 am to terd ferguson
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.
Posted on 12/6/18 at 9:46 am to terd ferguson
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
Do this at a few locations
Posted on 12/6/18 at 9:47 am to Bjorn Cyborg
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.
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.
Posted on 12/6/18 at 9:47 am to Bjorn Cyborg
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.
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.
Posted on 12/6/18 at 9:48 am to Bjorn Cyborg
It would be pretty easy. Buy a cash business and just start putting more $$ through it. Just increase the sales and put cash in it.
dry cleaner
car wash
bar
restaurant
Real estate is supposed to be relatively easy to launder money too. But you multiple cooperating parties to make that happen.
dry cleaner
car wash
bar
restaurant
Real estate is supposed to be relatively easy to launder money too. But you multiple cooperating parties to make that happen.
Posted on 12/6/18 at 9:49 am to Bjorn Cyborg
Weed dispensary. Banks still can't work with these legitimate businesses due to it still being illegal on a federal level. These places have tons and tons of cash on hand.
eta but these places are still raided occasionally, so as soon as someone thought you might be laundering money, you fricked.
eta but these places are still raided occasionally, so as soon as someone thought you might be laundering money, you fricked.
This post was edited on 12/6/18 at 9:56 am
Posted on 12/6/18 at 9:50 am to brian_wilson
quote:
It would be pretty easy. Buy a cash business and just start putting more $$ 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
Posted on 12/6/18 at 9:50 am to Dire Wolf
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
Posted on 12/6/18 at 9:53 am to cas4t
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.
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.
Posted on 12/6/18 at 9:54 am to rocket32484
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.
Just spending it would be an alternative to laundering, but risky and subject to raising red flags.
Posted on 12/6/18 at 9:54 am to Bjorn Cyborg
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?
Posted on 12/6/18 at 9:55 am to teke184
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 12/6/18 at 9:57 am
Posted on 12/6/18 at 9:55 am to cas4t
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.
Posted on 12/6/18 at 9:56 am to Bjorn Cyborg
Open any cash business.
Posted on 12/6/18 at 9:56 am to Bjorn Cyborg
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?
Posted on 12/6/18 at 9:57 am to KiwiHead
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.
Posted on 12/6/18 at 9:57 am to MLCLyons
Laundromat too
the one I currently go to does not accept credit cards
come to think of it, they are probably laundering money
the one I currently go to does not accept credit cards
come to think of it, they are probably laundering money
Posted on 12/6/18 at 9:58 am to Bjorn Cyborg
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.
Posted on 12/6/18 at 9:59 am to brian_wilson
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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