LOL You Jeep Owners
- Thread starter Irishguy
- Start date
Boy hes a marketing whiz. He's about to get a 3.8 caravan enema.
I bet if I asked for a cashiers check and a bill of sale, he wouldn't do it. I have no need to launder drug money for someone. My brother used to buy cars at an auto auction and he said several guys would buy a row of cars at a time then pay with duffel bags of cash. He got out of the used car business and went into campers and ATVs.
I'm naive. How does buying a bunch of junk cars help launder money. What do they do with them? Sell them and claim people paid 2-3x?
Pay with dirty money and then sell them for clean money...even if there is some loss
How does that clean the money? It isn't like there's a marker on the money. I though the purpose of money laundering was to create a legitimate source of funds...that is a reason why you have the money you do. For instance, I can support the cash I have with a paystub and bank records.
But if I "found" $10K in money or gained $10K through profits from drug sales, I need something to support it. If I were to buy a ten of junk cars at $500 each and "claim" those are sold at $1,500 each, I now have $10K of clean money. I'll have to pay taxes on it, but the money is now clean.
Is this not the case?
Happened quite a bit at the Toyota dealership where I worked in the late 90s right outside of D.C. Guys would come in & buy cars under 10k in cash without even test driving. The deal would be done & they'd be driving off in less than an hour.
Yea idk I'm not an expert lol. I just watch movies. All I know is they usually get caught.
I haven't dove into the aspects of it in great detail. However, I assume that any legitimate business would use banks for their transactions rather than several people with dufflebags of hundred dollar bills.
In this guy's case you'd be directly taking his (alleged) drug profits in exchange for your car. He doesn't have to put it in a bank, you do. But it's easier if that bank teller asks you where you got the money. You can say from a car sale and it won't be a weekly thing. They won't even ask you the name of the person you sold it to. If he's smart, he'll pay you extra for leaving the title signatures off so he can turn around and sell it with your name as the last owner when the next person gets it licensed. He may just keep the Jeep because money is for living expenses anyway. Buying gas, groceries, clothes, etc. all work as long as you don't buy too much expensive stuff at one place to draw attention to the fact you shouldn't be able to afford what you're spending.
There are all sorts of bank triggers looking for odd movements of cash. And the dollar amounts have been shrinking from the previous $10,000 limit from a long time ago.
I'm not sure if the lots like COPART and the used car auction places still operate in cash only or if they now required a cashier's check to get banking involved. It wouldn't surprise me if .gov closed that loophole. The difference between cash and bank checks is you can fudge the boundaries with cash and creative accounting. Running through a bank puts your money through the banks accounting system and they are very detailed.
Say you bought and axle for $500 in cash from a friend and decided not to put it in, listed it and it sold for $1000. Did you report the $500 as income? If you spent the extra $500 windfall on Jeep parts off Craigslist, the man would never know. Neither would the wife if you deposited $500 back in the account.
In this guy's case you'd be directly taking his (alleged) drug profits in exchange for your car. He doesn't have to put it in a bank, you do. But it's easier if that bank teller asks you where you got the money. You can say from a car sale and it won't be a weekly thing. They won't even ask you the name of the person you sold it to. If he's smart, he'll pay you extra for leaving the title signatures off so he can turn around and sell it with your name as the last owner when the next person gets it licensed. He may just keep the Jeep because money is for living expenses anyway. Buying gas, groceries, clothes, etc. all work as long as you don't buy too much expensive stuff at one place to draw attention to the fact you shouldn't be able to afford what you're spending.
There are all sorts of bank triggers looking for odd movements of cash. And the dollar amounts have been shrinking from the previous $10,000 limit from a long time ago.
I'm not sure if the lots like COPART and the used car auction places still operate in cash only or if they now required a cashier's check to get banking involved. It wouldn't surprise me if .gov closed that loophole. The difference between cash and bank checks is you can fudge the boundaries with cash and creative accounting. Running through a bank puts your money through the banks accounting system and they are very detailed.
Say you bought and axle for $500 in cash from a friend and decided not to put it in, listed it and it sold for $1000. Did you report the $500 as income? If you spent the extra $500 windfall on Jeep parts off Craigslist, the man would never know. Neither would the wife if you deposited $500 back in the account.
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