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re: Too much money to Launder?
Posted on 3/3/22 at 11:15 pm to beaverfever
Posted on 3/3/22 at 11:15 pm to beaverfever
I still have my dog turd painting and my autograph that I can sell you. Hell, put your wife/gf on only fans - I'll get some prepaid credit cards and become a "fan".
I'm not joking - there are absolute idiots laundering money at this very minute. It's not that hard.
Most of the small-time criminals are doing it with pp cards, BTW
I'm not joking - there are absolute idiots laundering money at this very minute. It's not that hard.
Most of the small-time criminals are doing it with pp cards, BTW
This post was edited on 3/3/22 at 11:27 pm
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Posted on 3/4/22 at 7:30 am to Havoc
If I could just teleport into and out of a drug king pin’s cash stash with like 20mil; I’d just go deposit some every week and pay my taxes on it. FBI would never know where the money came from. IRS gets their cut. Everyone’s happy.
Posted on 3/4/22 at 8:31 am to evil cockroach
Sounds like the trick is no paper trail getting in and a justifiable story getting out.
Seems like you could find some local bullion dealers and buy old coins up to $10k per transaction. Sit on them a wile and sell them to a reputable dealer saying you have a stash you bought around 2008 or earlier and are cashing in. Pay taxes on gains.
How can anyone verify what money was used to buy gold 20 years against or how long you’ve actually held the coins? At $2k a piece, 50 coins would be $100k. You pay taxes on the gains but that’s life.
Seems like you could find some local bullion dealers and buy old coins up to $10k per transaction. Sit on them a wile and sell them to a reputable dealer saying you have a stash you bought around 2008 or earlier and are cashing in. Pay taxes on gains.
How can anyone verify what money was used to buy gold 20 years against or how long you’ve actually held the coins? At $2k a piece, 50 coins would be $100k. You pay taxes on the gains but that’s life.
Posted on 3/4/22 at 8:44 am to shel311
quote:
Bitcoin ATMs can deposit up to $25k per day, so I don't see any issue being able to somewhat quickly get a shite ton of money transferred into BTC.
Pretty sure any brokerages or platforms dealing in crypto are going to have to issue 1099s so it can be tracked and taxed. So I'm not sure the bitcoin ATM is going to work.
Posted on 3/4/22 at 8:47 am to deeprig9
quote:
In this whole thread I still don't see a better way than walking $9500 into a casino, taking chips, having a drink, play some blackjack, cash out $9000, and reporting it as gambling winnings, paying your tax rate, and having clean money thereafter.
Because in your scenario there are no winnings to report. And once again someone has missed the whole point of money laundering, which is how did you come upon the money you used to buy the chips in the first place.
Posted on 3/4/22 at 9:40 am to SquatchDawg
quote:I asked the same question earlier when I asked about depositing $25k per day into a Bitcoin ATM and just saying you bought a shite ton of BTC 10+ years ago when it was $5 and struck it rich, but apparently the "I just don't have receipts" angle won't fly, and you'd still be fricked.
How can anyone verify what money was used to buy gold 20 years against or how long you’ve actually held the coins? At $2k a piece, 50 coins would be $100k. You pay taxes on the gains but that’s life.
Posted on 3/4/22 at 1:10 pm to shel311
I ‘d go to Las Vegas about once a month and hire a high dollar call girl,pay cash.I once sat in lobby of casino hotel and watched some knock out young women come in by them selves and go to elevators.Quite sure they were call girls.
Posted on 3/4/22 at 1:24 pm to Chucktown_Badger
quote:
Pretty sure any brokerages or platforms dealing in crypto are going to have to issue 1099s so it can be tracked and taxed. So I'm not sure the bitcoin ATM is going to work.
Yeah crypto isn't as "paper trail-less" as people think. Especially with the larger promoters (Robinhood, Bitrex, Coinbase, etc.). They all provide you with your data for taxes when you request it.
As for the under $10k deposits. Bank's can fill out SAR's for any amount they think is suspicious. Even if you aren't flagged that way, there will forever be the paper trail in the bank's records.
The driving range with bar scenario, the bar would require a liquor license and they watch those sort of businesses more than an average business (at least from the state DOR perspective).
Also, the DOJ deals with criminal tax crimes, not the FBI. The FBI will be dealing with the crime that created the money, but I'm sure they work together with the IRS and FBI.
Posted on 3/4/22 at 1:25 pm to Havoc
quote:
Too much money to Launder?
I'd launder as much as I could and dry clean the rest.
Posted on 3/4/22 at 2:02 pm to Havoc
Buy Gold, crypto, in chunks under 10k
Posted on 3/4/22 at 2:22 pm to mstiger1
quote:
Back in the 70's and 80's I DID launder drug money and it was simple as long as you kept ALL transactions under the 10k mark. I also bought numerous properties in CASH and had no problem with IRS until I got busted for drugs. I ended up settling with them for pennies on the dollar (thanks Ed Porsche). People are too afraid of the IRS and they are usually the bottom of the barrel of accountants. Today, though with better computing I would assume it would be harder. After 12 years away, that cured me.
Would love to hear more of your story. From what you wrote sounds like you were living a good life until you got busted and did some serious time. After you go out how much of the assets you acquired did you still have?
Posted on 3/4/22 at 2:39 pm to NOLALGD
quote:
NOLALGD
How long have you worked for the IRS?
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