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Posted: 12/15/2005 1:53:48 PM EDT
So whats money laundering?
Link Posted: 12/15/2005 1:54:16 PM EDT

Originally Posted By zeekh:
So whats money laundering?



Yes.
Link Posted: 12/15/2005 1:54:26 PM EDT
[Last Edit: 12/15/2005 1:54:50 PM EDT by Alien]
Did you just watch office space?

To conceal the source of money of course!
Link Posted: 12/15/2005 1:54:59 PM EDT
Distributing illicit earnings through a number of quasi-legitimate operations to make it appear as the the revenue was generated via legal means.
Link Posted: 12/15/2005 1:56:59 PM EDT

Originally Posted By Alien:
Did you just watch office space?

To conceal the source of money of course!



No I didn't watch office space.

But how do you conceal the source of money?
Link Posted: 12/15/2005 1:57:34 PM EDT

Originally Posted By Alien:
Did you just watch office space?

To conceal the source of money of course!



Ask a coke dealer!
Link Posted: 12/15/2005 1:57:48 PM EDT

Originally Posted By zeekh:

Originally Posted By Alien:
Did you just watch office space?

To conceal the source of money of course!



No I didn't watch office space.

But how do you conceal the source of money?


With whiteout of course!
Link Posted: 12/15/2005 1:58:42 PM EDT
As those before me have said, it is difficult to use lots of currency to buy, say, a house without proving the money was gotten through legitimate gains. the more money, the bigger the problem, example, drug dealers in Miami in the '80s. Duffel bags full of cash, the feds get wise and clamp down on deposits over 10K cash.

Launderer "washes" the money, transfers it though ever more legitimate accounts and businesess, and suddnely it's "clean."
Now the money can be used.

Of course, there is a fee for the service.

For low amounts, places like restaraunts will work becasue they are a cash business to some extent, but for larger amounts, well, trade secret.
Link Posted: 12/15/2005 1:59:22 PM EDT
When I do it I use a Whirlpool.



Pisses me off too.
Link Posted: 12/15/2005 2:09:04 PM EDT

Originally Posted By zeekh:

Originally Posted By Alien:
Did you just watch office space?

To conceal the source of money of course!



No I didn't watch office space.

But how do you conceal the source of money?

Say I have $25,000 that I just got from a back-room poker game. Since my last name ends in a vowel, I don't want to declare this on my taxes as income. So, instead of taking the money, I give it to my brother-in-law, who runs a printing company. He uses it to "buy" a new printing press that doesn't actually exist from his cousin for $24,000. The cousin pays his wife's uncle, who is a "printing press importer," $23,000 for handling the mythical printing press. The uncle pays my other brother-in-law $22,000. He's a freight forwarder. My brother-in-law pays me, a shipping consultant, $2,000 as a commission on the printing press deal, and makes a $19,000 donation to the "Our Lady of Perpetual Motion Ladies' Auxiliary," a 501c3 not-for-profit group run by my wife. The Auxiliary uses $18,000 to put a new roof on the church Rectory. My nephew is a roofer. He gets 4 "undocumented workers" to re-roof the rectory with stolen materials and keeps $1,000. I get the remaining $18,000 in cash, which was actually reported as paid in wages by the nephew. He didn't really, and he doesn't care anyway, since it's the 15th company he's bankrupted this year. That's what he does.
Link Posted: 12/15/2005 3:10:30 PM EDT

Originally Posted By zeekh:

Originally Posted By Alien:
Did you just watch office space?

To conceal the source of money of course!



No I didn't watch office space.

But how do you conceal the source of money?



The basic technique is just to shift it from one company or account to another until it is no longer apparent that you had a suitcase full of cash from illegal activities.

Such as, you give it to a friend who owns a company. He reports it as income to the company and then pays you a salary. You get a check that you can deposit in your bank (hopefully) without arousing the suspicion of any law enforcement agencies looking for coke dealers with suitcases full of cash.

Or something like that, with any number of bank accounts and companies in the mix. The economy of Panama and several other countries is built on money laundering.
Link Posted: 12/15/2005 3:16:41 PM EDT
And in these "conjugal visits", I get to have sex with women?
Link Posted: 12/15/2005 3:32:48 PM EDT
Dude, don't do it. You'll get sent to the federal pound me in the ass prison!
Link Posted: 12/15/2005 3:33:31 PM EDT
Use the gentle cycle
Link Posted: 12/15/2005 4:07:26 PM EDT

Originally Posted By CITADELGRAD87:
For low amounts, places like restaraunts will work becasue they are a cash business to some extent, but for larger amounts, well, trade secret.



Most of these Chinese restaraunts/buffets that have sprung up over the last decade are money laundering shops for the Chinese/Asian "mafias". True, restaraunts are better for smaller amounts but considering that these days there is a Chinese carryout in just about every neighborhood in every American city, they can move quite a volume.
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