Posted: 5/29/2005 11:57:49 PM EDT
Can someone provide some details on what this is? Yes, I know the dictionary definition, but how is it actually done? IOW, what are the most common ways to do it? And no you bastards, I'm not looking to launder any frickin money. You won't read about my Arfcom account seized by the feds under the RICO act Let me restate: I AM NOT CONTEMPLATING DOING ANYTHING ILLEGAL 
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Did you're subscriptions to Vibe start yet??? Still waiting on mine... all 40 of them... What am I gonna do with 40 subscriptions to Vibe?!?! |
Probably. I'm sure many accusations will be flung at me by fucking idiots who don't understand that if I really wanted to launder money, I'd go find a gangster or someone to talk to and not post it on an internet message board. |
Of course not... we all know that if you want to launder money... all you need to do is "Conceal the source, as by channeling through an intermediary". It really is that simple... |
I don't see how you could conceal money that way, or why you would want to conceal money that way. I was hoping that any coke dealers would remain quiet.  I would prefer to hear from cops who have dealt with it. WTF does the definition mean? That I could give money to my friend, and have him give it back to me sometime. How in the hell would that be (a) illegal or (b) concealing the source?
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A good way is to run it thru a business, so you have a (fake) paper trail for the money so you could explain where it came from. A guy making $25K/year doesn't look too straight when he buys a 3 million dollar house. The same way as a guy without a job doesn't look too good when he puts a couple hundred grand into a bank account. |
| Money laundering involves taking dirty money and making it legitimate, for example by having a front business. Another method that was used is taking dirty money and laundering it through casinos; however, with Regulation 6A, any currencies greater than $10,000 is now reported to the federal govt. They take your ID and process paperwork...not what drug dealers like to have on record. |
exactly....remeber scarface? montana realty? you know he never sold real estate!!! |
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As soomeone said. . . any business that takes in large amounts of anonymous cash would be ideal for laundering. Bars-- nightclubs can take in tens of thousands in one night, much of it strictly in cash. Casino-- again, many thousands in one night, but these are now being run mostly by megacorporations and with all the regulations is much more difficult. Car wash would be good, but would have to actually be in a good spot for it not to draw a lot of attention (no customers, lots of cash) Veding could be extremely concealable if you ran a large enough area, keeping your prices artificially low to get the flow-through of product to hide the extra cash. Pawn shops - - - kinda obvious that illegal things might be going on here (it is the image, not the reality). Check cashing - - - how much are you REALLY pulling in on each transaction? Simply make this how you take in the cash for the dope. Basically any business where you can hide the extra income in the margins. Heard a story about some intermediate-level drug mover who had a roomfull of shoeboxes full of cash when caught. He said that they couldn't find anything to do with all of the cash they took in . . . too much of it and no way to clean it up. Friend of mine worked at a personal loan-type place. Had a guy call in from FL and give his occupation as 'drug dealer'. He wanted to get clean credit, so he was looking to get loans that would show good on his credit rating. For collateral he put up his Ferrari and his Porsche. They gave him his loan . . . |
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I find it amusing that when someone wants to launder money they are generally trying to show it as income so they can pay taxes on it and use it for legitimate things. One thing someone mentioned but I think needs to me mentioned again is you need to have used X amount of supplies if you are saying you made Y amount of income. Now some things like a club where people go to dance might just have a cover charge. But if you are running money through the bar section you need to make sure your amount of alcohol purchases somewhat agrees with the income you are trying to show. The example someone else used was vending I think, and they mentioned artificially low prices and this would create a solid demand for your product so you would have lots of product going out. Once again I find it amusing that you are running a business poorly so you can launder some money and pay taxes on it. If you run a dry cleaners or something they look at supplies you buy, especially hangers and what not since most stuff goes out on hangers. Some number fudging can be done if you get your customers to return their hangers, plus some big stuff like comforters just gets stuck in a bag and then it goes out the door. If you want to get into writing stories and stuff it helps to have a basic understanding of this stuff because otherwise most folks will consider your work really poor since you did not do enough research. |
The IRS isn't who you should be concerned with laundering money. You can write on your tax return that you earned the money through drug dealing and it's private. The IRS doesn't care/won't do anything. They just want their money. Now, if you have a cash business and are under reporting THEN the IRS is going to be on you. |