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Started By
Message
re: Too much money to Launder?
Posted on 3/3/22 at 9:31 am to cable
Posted on 3/3/22 at 9:31 am to cable
quote:
Oh and the car wash bull shite from breaking bad - the IRS will come in and check their water usage. I've seen everything from strip clubs, car washes, laundromats, arcades - and even Bernie Madoff was eventually caught so whoever posted that you can get with this shite - you can for a while, but when it eventually comes crashing down - the longer it goes on - the harder it falls. There is no good way to perpetually "launder" money unless you want to not use it and just bury it in the desert.
Wouldn't the best way to do it be the way the OP stated? Just live in a above average house you can afford on your income but live lavishly on weekends with your cash. Go to the nicest restaurants, don't worry about what you are spending pay cash for all fun activities and groceries. I imagine most people would be amazed at how fast the savings grow if you pay cash for daily necessities and entertainment. Of course I am sure you would have to sprinkle in some gas purchases and groceries on your card but just do the bare minimum.
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Posted on 3/3/22 at 9:33 am to TeddyPadillac
quote:
If it's enough money, you rent a private jet and fly to the Cayman's.
If it's not, keep it at home in a safe place or two or three, and spend it on normal things, pay some mexicans cash to remodel something, get a pool, and just deposit some chunks from time to time. so what if you deposited $10k into your account. I've been saving it for a trip and deposited it to go on vacation, now mind your fricking business.
How do you have enough money to do all those things if you're just a normal person?
Again, having a story and "proof" behind it to make that much money is the actual laundering part.
A teacher who makes dozens of $10k cash deposits and takes a private jet to the caymans to gamble a million dollars doesn't pass the sniff test.
This thread is exhausting
Posted on 3/3/22 at 9:34 am to Chucktown_Badger
I could deposit $500k in my bank today and I doubt anyone would blink an eye. I see this stuff going on - ultimately it's the IRS that's going to have to shut the spicket off. There is drug money all over the place. Don't ask me how I know this, but it's there. And I don't take drug dealers on as clients - I just know it's out there and I know what they do.
This post was edited on 3/3/22 at 9:37 am
Posted on 3/3/22 at 9:34 am to Methuselah
quote:
In the dream I had it was someone who had money from the robbery of a bank or something like that. The worry was that the serial number of the money was tracked. The casino situation would seem to work for that unless they tracked the money they received to the customer.
That’s quite a dream
The casino thing is tricky (assuming I understand the process, which is a big assumption) because you need to win as an excuse for where money came from but you need to lose to explain where it went. The only possible advantage I could see is if you go very frequently the complex ins and outs could create confusion to trying to follow it all making it easier to throw off chunks here and there. Maybe.
Posted on 3/3/22 at 9:37 am to Chucktown_Badger
quote:
So you're giving me $500k of your dirty money and I turn around and give it to you for a terrible painting? How was I able to buy your painting with $500k in cash? Where did I get the money?
There are articles on this, just went down this rabbit hole. The advantages of art:
-subjective value
-large cash transactions are “normal” within the industry, which would cut down on bank scrutiny.
But most importantly, it appears private art dealers have no duties under anti money laundering laws to even verify the buyer exists and it can be purchased anonymously.
Posted on 3/3/22 at 9:37 am to cable
quote:
I could deposit $500k in my bank today and I doubt anyone would blink an eye.
Probably because it's easily verifiable where the money came from. That's the whole point that people keep missing. It's not what you do with the money, it's how you make it look like you came upon it through legal means in the first place.
Posted on 3/3/22 at 9:39 am to Bruco
quote:
But most importantly, it appears private art dealers have no duties under anti money laundering laws to even verify the buyer exists and it can be purchased anonymously.
Ah, that certainly would qualify as a loophole. And said buyers bought with a suitcase full of cash.
Posted on 3/3/22 at 9:40 am to Havoc
quote:
That’s quite a dream
I know. And I barely ever remember my dreams. They do tend to get more vivid when I have to take certain medicines/chemo though so maybe that's why I remember this one a little bit.
Posted on 3/3/22 at 9:40 am to Chucktown_Badger
quote:
it's how you make it look like you came upon it through legal means in the first place.
How about offer up a situation that could work? All you've done is say people have no clue.
Do you know? If so, let's hear it.
Posted on 3/3/22 at 9:46 am to Havoc
For starters, you need the proper attire. A money vest helps to hide cash when you’re out and about.
Posted on 3/3/22 at 9:50 am to Chucktown_Badger
quote:
the most common locally is the art gallery.
Help me understand how this would work. People keep saying it.
Because its hard or impossible to track value of art. You could have an artist list in your gallery and have a bunch of cash sales receipts for absurd amounts of money. Some shite art that's "worth" $100 selling for $20,000.
Car wash water issue is easy if you aren't stupid. Just have a water faucet on a timer. Same thing with materials, same thing with something like an ice machine.
Its not hard to bleed materials if you want to. Buy bags of ice machine bags and throw them away.
Its hard to launder millions, but laundering $50-100k a year wouldn't be that hard.
Hell a restaurant is probably the best idea. Or a sandwich shop.
Storage building would be decent, but you couldn't have a bunch of empty units and why would you? Plus, you have a limited supply.
The best thing to do would just be to open a business with cash sales and questionable ROI. If you have money to burn and launder, boom you are golden.
Posted on 3/3/22 at 9:53 am to Havoc
Has anyone posted the "It's a trap" image yet?
Posted on 3/3/22 at 9:55 am to Chicken
how much money do you launder through ads on TD?
Posted on 3/3/22 at 9:56 am to LSUintheNW
quote:
All you've done is say people have no clue.
Well, most of them don't.
quote:
Do you know? If so, let's hear it.
I would think the easiest way would be through a business where there is a high volume of cash purchases. Some of them have been mentioned already.
Posted on 3/3/22 at 9:57 am to Chucktown_Badger
quote:
Probably because it's easily verifiable where the money came from. That's the whole point that people keep missing. It's not what you do with the money, it's how you make it look like you came upon it through legal means in the first place.
My favorite is when places start laundering, and notice their "profits" are so out of line with their expenses, that they create fake vendors and slip them in. Half the time, that shite looks like clip art, and will almost always, except for logo, match one of their other invoices.
Posted on 3/3/22 at 9:57 am to Chucktown_Badger
quote:
A teacher who makes dozens of $10k cash deposits and takes a private jet to the caymans to gamble a million dollars doesn't pass the sniff test.
Your reading comprehension and assumptions are exhausting.
I explained two different scenarios.
1, you have millions of dollars. in that scenario, then just get your private plane and go to the Caymans and deposit it into an account. did not say gamble it.
2, if you have say $100-200k that you "found" then just do normal shite like i explained. I didn't say make dozens of $10k deposits. I made a $5k deposit in quarters yesterday. Yeah you heard that right, $5k in fricking quarters that my wifes grandma has been saving for the last 40 years and gave away to her grandkids. She had over $30k in coins. The bank was thrilled to death that i was helping out with the coin shortage, and literally said bring back all of it if you can. did that pass the sniff test?
Posted on 3/3/22 at 9:57 am to Chucktown_Badger
quote:
I would think the easiest way would be through a business where there is a high volume of cash purchases.
So, you don't know. Got it.
Posted on 3/3/22 at 10:01 am to Havoc
quote:
major renovations
You could probably get by pay this with cash. I paid for my roof in cash, no questions asked (and it was north of 20k).
I know people who buy vehicles in cash.
I think the major thing would be real estate, other than that you could get by with pretty much anything else.
ETA: also if you really need to launder large amounts of money, art is the way to go.
This post was edited on 3/3/22 at 10:03 am
Posted on 3/3/22 at 10:05 am to LSUintheNW
quote:
So, you don't know. Got it.
You need me to list out types of businesses where many of the transactions are done via cash?
If you think real hard I bet you can come up with a few.
This post was edited on 3/3/22 at 10:06 am
Posted on 3/3/22 at 10:09 am to LSUintheNW
Basically, if you are laundering money (in an individual or business capacity) you will likely eventually get caught. There have been many smart people who have concocted all sorts of plans over the past 100 or so years and traditional "money laundering" activity will likely not go unnoticed. Hell a lot of the returns are only done by computers and they'll catch an inconsistency even if it's an honest mistake, which will then require a human to start looking into it.
Also, the IRS pays huge rewards in a lot of cases and all it takes is one person, who doesn't like you or sees what is going on, making a call. Tax and criminal lawyers get expensive.
TLDR: Don't try to launder money.
Also, the IRS pays huge rewards in a lot of cases and all it takes is one person, who doesn't like you or sees what is going on, making a call. Tax and criminal lawyers get expensive.
TLDR: Don't try to launder money.
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