I've long been intrigued with the way people "launder" their ill gotten gains, and am aware casinos are often used for this purpose.
What things do people do to launder money in casinos, and what countermeasures are in place to help prevent it?
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I've long been intrigued with the way people "launder" their ill gotten gains, and am aware casinos are often used for this purpose.
What things do people do to launder money in casinos, and what countermeasures are in place to help prevent it?
When the APs reveal their secrets, I'll tell you about this.
In fact, it was an element in a screenplay I authored several years ago.
Quote:
Originally Posted by Alan Mendelson
Was the title "I pay lease on an office I never visit?"
No the title was "Con Gals"
It's registered with the Writers Guild
Just like any other business that deals with a lot of cash money. Over report your profits and/or under report your losses. I don't know nor care much about money laundering, but I'd imagine it'd be pretty easy to play a VP game with lots of taxables, then write off X amount of "losses", then the rest is 'clean' money. IE: Hit for $1M in taxables, write off $700k losses, claim $300k income.Quote:
Originally Posted by MisterV
Or you could be a professional "card counter" and decrease all your losing sessions by a few hundred and increase all your winning sessions by a few hundred.
Granted, it also depends how much you'd want to try to launder. Less than a million in a year, I think would certainly be doable. Trying to do something like $10M in a year, that's going to be pretty tough, I think.
For this, as far as I know, there are no counter measures, since really, there's nothing the casino can do about what you choose to report on your taxes.
Supposedly, people buy in for large amounts, play a little bit, then cash out, trying to claim it all as winnings. IMO, this is a pretty stupid way to do it. Oh sure, while you're at it, just put a big life insurance policy on your wife and once it gets accepted by the insurance company or whatever, your wife will suddenly die....that's not going to raise any eyebrows.
Poker is often used to launder money.
A few card rooms in LA have been busted for this recently, including the Bicycle Club.
Basically the launderers play a fake poker game against an accomplice heads up "opponent". The accomplice is the one who shows up with the dirty money (supplied by the launderer), and then the accomplice "loses" that money to the launderer, who then declares it as high stakes gambling winnings.
Dan mentioned one way. There is another way done on a regular routine basis that even slips under the $10k reporting requirements. I'm surprised this isn't commonly known among teams and APs because it's so simple and no one even notices. I've seen it done numerous times.
Fill us in Alan.
CBC News Posted: May 20, 2008
Quote:
Casino loophole lets criminals launder cash, RCMP fear
An RCMP probe into a southern Ontario drug trafficking ring has exposed a loophole in the province's casino system that police fear criminals are exploiting in a bid to launder the proceeds of crime.
Called Project Ozzi, the 2004 RCMP investigation broke up a drug trafficking ring involving cocaine and ecstasy in the Toronto and Kitchener areas.
RELATED STORY: CBC News goes inside two Ontario casinos to test how easy it is to launder money and to see who is watching.
RCMP investigator Cpl. Joe Peel says suspects linked to the ring were frequent players at Casino Rama, outside of Orillia, Ont., and Mohawk Racetrack, west of Toronto. They would play as much as twice a day, often depositing $9,000 into the slot machines each time, said Peel.
"They would go in, under the threshold of $10,000, play various machines and then, at some point, cash out, get the little stubs from the machines … and then ask for a cheque," said Peel, who is with the force's proceeds of crime section.
Peel said the players were careful to make sure most transactions fell below $10,000 — the amount that's supposed to set off alarm bells among casino staff. Under provincial and federal laws, casinos are required to report cash transactions of $10,000 or higher to the federal agency that monitors suspicious movement of money — the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Peel said members of the organization would then deposit the official casino cheques into bank accounts.
"They were trying to legitimize … trying to clean or cleanse the money … is the best way to put it," said Peel. "[Take] the dirty money from the drugs, [gamble it] through the casino … get a cheque and then put it in a bank account. That was the process."
"The process of laundering the money doesn't always rely on winning. It can be just playing it and then checking out. Actually getting a cheque from that institution," he said.
Plea deal with ringleader
Peel said he suspected an apparent casino connection after a 2005 bail hearing for Lenard Ro, the man later convicted of leading the Toronto-Kitchener drug ring. At the hearing, Ro's mother told the court much of her family's cash came from casino winnings — more than $100,000 for one month alone. She brought along casino receipts as proof, telling the court she was a very successful gambler.
Peel said after learning of that testimony, he was struck by how simple it would be to launder money through slot machines.
"It seemed too easy, to launder money through the casino. Really, it bothered me at that point, how easy it was," said Peel. He said he suspected people linked to Ro's organization had funnelled anywhere from $3 million to $5 million through casinos to get the official cheques.
In an e-mail to CBC News, Ontario Lottery and Gaming Corporation (OLG) said their transaction records show the amount of money issued by casino cheque to people linked to Ro's organization is "far lower" than the RCMP estimation of $3 million to $5 million. The e-mail arrived late Friday, even though the organization has been aware of the story for several weeks.
RCMP later charged Ro's mother, brother and father with money laundering, but the charges were dropped against the three family members when Ro struck a plea bargain and pleaded guilty to masterminding a drug and money laundering operation.
The CBC tried to reach Ro but his lawyer did not return phone calls. Messages left for his mother were not returned.
OLG told the CBC that Ro's mother appeared to be a good customer and didn't fit the profile of money launderer.
RCMP warned to back off
Peel said when he approached OLG about possible money laundering at casinos, the organization's vice-president of security, Mike Sharland, told him to back off. Peel said he was shocked by Sharland's response.
In 2007, Sharland was the subject of a separate Toronto police investigation into allegations of obstruction into a criminal investigation at OLG concerning an Ontario man who was duped out of his winning lottery ticket. Police found no evidence to indicate Sharland interfered with the criminal probe, but did conclude the secondment of a senior OPP officer to OLG "did create a conflict of interest." Shortly after the report was issued, the OPP decided to stop seconding its officers to head security at OLG. Sharland retired from the OPP last March, and from OLG four months later.
"I didn't record our conversation, but basically, [I] was told to look somewhere else and get off his turf, that sort of thing," said Peel. "I didn't get very good vibes from him. Let's put it that way."
Sharland, who was also pulling double duty as a serving OPP chief superintendent during the time he worked as the head of OLG's security, told CBC News he couldn't recall the conversation.
"All the time that I was either at the AGCO [Alcohol and Gaming Commission of Ontario] or OLG, we always co-operated fully with any outside police agencies," he said.
Peel says he doesn't know the extent of money laundering in the province's casinos, but says the loophole shows the potential for greater problems.
"I would hope it was an isolated incident. I doubt it. I'm sure many other criminals out there know as much as Lenard Ro and are doing the same thing," said Peel.
Yes, but what's supposed to be happening is that the casino should be keeping track of the the buy ins even as little as 3k. If the casinos are doing what they should be doing, questions might come up as to where the accomplice got his money. If there's a pattern of this happening often, there could be problems.Quote:
Originally Posted by Dan Druff
I don't even know why they need to even show up and lose to the rake(perhaps they feel it seems more legit?). One can just claim they won big in a poker game from multiple unknown people.
Someone can just claim multiple table game and even smaller slot wins over a period of time. I guess that wouldn't help much if someone needed to show a big win immediately so they could buy something big(like a house or expensive car) before they lost the deal or they just don't want to wait to spend their money. If thats the case, they could just foce a bunch of W2G's and lose the vig, round robin parlay tickets and show the winning ticket.
Hint: after buying chips in a casino, no one says you have to make a bet.Quote:
Originally Posted by dannyj
I've seen some odd behavior on HL slots a couple of times that I assumed was money laundering at various locals.
Usually at odd times when the HL room was mostly empty. Individual comes in, sits at one machine, and spins and spins with no players card at max bet feeding in hundred after hundred. Finally wins a small handpay, takes a check (even though the amount is way less than what they've seemingly pumped into the machine), then leaves.
pkspins here's how it works in high limit slots:
money launderer sits at a machine and feeds in hundreds and hundreds and hundreds.... and then hits the cash out button. Goes to the cage and gets a check for the ticket. Deposits the money in the bank. Check says " XXXX Casino." It's now laundered money.
You can do the same thing with chips. As I said above: no one says you have to make a bet after buying chips.
There you go. Simple. No loss. Deposit a $100,000 check in your bank and claim on your tax return that you lost $100,001. No need to claim groceries, barbecues, parties, going to dinner with your wife to discuss business.
And if you want to skirt under the cash transaction reporting laws, have your team do it a few thousands at a time.
Players who consistently win at a casino, or leave a casino with money or cheque are a blatant red flag for something. I mean, it becomes obvious as hell to even the other players. The same is true at the other end, with the revenue agencies. The segment of the population in an apparently legitimate position to do this don't gamble at casinos. At any rate, way too much casino scrutiny, and evidence if necessary.
And what about that "look over your shoulder" bit for a few years, until you think you got away with something, despite the likelihood of ongoing investigations into the serious offences? Lol. Persons with health conditions shouldn't even think about gambling, however. At the best of times, players are at the mercy of a bunch of Neanderthal creeps who hide behind cameras and not-so-thin walls. How do you know what they are actually doing to their trouble makers? You don't. Good thing our imaginations are limited.
OneHitWonder is correct that you can't keep doing this over and over again. But a team could.
In reality, anybody laundering huge amounts of money will have a business... just like on TV and the movies.
Buy an old clap trap bar then shove money in the till everyday.
One day I could/will write a book. My father was a mob attorney. This is not the first time I talked about it. When the Los Angeles Business Journal did a profile on me about ten years ago I talked about it in some detail... it's how I got my education to become a financial reporter and a consumer reporter. I learned a lot of the tricks before I was 12 years old.
My Bar Mitzvah album looks like a collection of mobster portraits.
The stories I have... like about the biggest Cadillac dealer in Northern New Jersey who every morning called my mother and asked her what color outfit she was wearing and then delivered a Cadillac to her to drive for the day. Then that night the car was picked up and driven off... never to be seen again and... (the rest in the movie/book).
How the hell is that laundering money????? I won 100k, but I lost $100,001? That's ridiculous. The reason people launder money is so they can show how they got the money and make it look legitimate, ultimately so they can put it in the bank, invest, give it away or spend it. Not so they now have to make it disappear again. You can't claim you won 100k , lost 100k and then keep the money in the bank or spend it. They will ask how the fuck you still have or can spend 100k if you lost it.Quote:
Originally Posted by Alan Mendelson
It's good to know that you do not have a criminal mind and do not know what money laundering is. So let me explain it to you.Quote:
Originally Posted by AxelWolf
Money laundering is when you take cash from an illegal enterprise (such as selling drugs) and convert into money that came from a legitimate enterprise (such as a business or a casino).
You take your drug money and you walk into a casino and put the drug money bills into a slot machine. Then cash out a big ticket and ask for the proceeds in a check from the casino. You then take the casino's check to the bank and they accept it from you, the casino gambler.
If you were to show up at that same bank with a brief case filled with $5, $10, $20 bills from your low-life drug customers, and the total in the briefcase was, let's say, $50,000 the bank would have lots of questions for you.
But, in the case of the casino check the only question is did you have a profit gambling? Your next step is to lie to the IRS and say you lost more than you cashed out. This might or might not be challenged by the IRS, but having to pay a penalty to the IRS would not be the same as having to explain all those cocaine splattered Jeffersons and Hamiltons to the DEA.
This is what is meant by money laundering.
Don't want to do it yourself? Give various people a 10% commission (hold) on the dirty cash you give them to do it for you in various casinos all over Nevada and California and Arizona and....
Now you raise the question of having $100K in the bank but telling the IRS you lost one dollar more. Well, you still have $100K in the bank. By telling the IRS you lost one dollar more you don't have any tax liability on that $100K you have laundered.
You really don't understand, do you?
But what if the IRS can tell by your tax returns or lack thereof that you should not have $100,000 in the bank?Quote:
Originally Posted by Alan Mendelson
Gosh... what if the IRS determines you got your casino bankroll from drug dealing? I guess there are all sorts of problems with being a crook, doncha think?Quote:
Originally Posted by mickeycrimm
LOL
So Alan's parents were a couple of criminals but taught him high ideals. Hmm, sounds fishy.
I never knew that the cage would give you a check for TITOs. This would have helped me in several situations where I ended up carrying way more cash than I was comfortable with due to nice winning streaks.Quote:
Originally Posted by Alan Mendelson
I'm still pretty sure that what I saw was some form of money laundering. Not as 100% return of clean money vs. dirty money like you mention, but still money with a legitimate source.
No different than stores and restaurants that are fronts to launder money for illegal enterprises. There were a number of those near where I grew up. I enjoyed a lot of cheap pizza, steak dinners and meals at home made from grocery items at bargain basement rates from the store that was only open sometimes when they had what I understood was interstate liquor running profits to launder.
Two sorts of stories and songs: new ones to old people; and old ones to new people. And then there're the "best stories", which lead the way for new science and/or keep criminals out of jail. But all pale to a good love story.Quote:
Originally Posted by Alan Mendelson
A few years ago at Rincon I had won enough cash that I didnt want to drive home with it. It was not one or two big hits, but rather quite a few small to medium jackpots, and I had been playing for a long time, putting some back in the machine, hitting again, over and over. (Back in the good ole days at Rincon.)
I went to the cage and asked if I could get a check for the cash, explaning that I was not comfortable driving home with it. They were hesitant at first, although they did eventually give me a check. But it took about 15 minutes or so, as they carefully checked my play for the day to see that I actually played won the money there.
Carrying cash or not - That windy road leading out of Rincon is scary enough for some.Quote:
Originally Posted by Chimp
Me? I've been there so many times, each twist and turn is like Deja Vu
There are also attorneys who defend murderers and rapists and that's because in our system of justice even murderers and rapists are entitled to the best legal representation that they can get.Quote:
Originally Posted by quahaug
My father was not a mobster nor was my mother. He was a lawyer who happened to represent people who had some problems. And some of these people were also friends who would go to dinner and cocktail parties and come over to the house for dinner parties and to hang out by the pool on Sundays.
Quit with the sanctimonious bullshit, Alan; you can't have it both ways, i.e. sullied AND pure.Quote:
Originally Posted by Alan Mendelson
You said your old man was "a mob attorney."
We all know what that means.
We also know the truth of the old adage: "You lie down with dogs, you get up with fleas.
You're right Mister V. Watch your ass.
I call bullshit Alan!Quote:
Originally Posted by Alan Mendelson
Going back and forth with b.s. can be fun but you seem to actually believe your b.s. stories so it's a little weird.
Alan, the bad thing about being "a mob attorney" is that part of the job involves learning their secrets and confidences, and no, I'm not talking about "a secret recipe," I'm talking about where the bodies are buried.
If your dad regularly or solely represented mobsters, then there's a great chance he knew that if he ever betrayed them they'd whack his family.
When I think of "a mob attorney" I envision flamboyant, seemingly crooked shysters such as Bruce Cutler and Sidney Korshak.
Hell, the former mayor of Las Vegas was "a mob lawyer" which of course is a very appropriate bit of job experience for the mayor of Las Vegas to have.
Okay I'll tell you a story, and it's true. It's about the Cadillac dealer.
My dad was his personal attorney and they were friends of the family. My parents didn't know they were part of the mob but here's what happened:
Every morning Ed would call the wives of his associates, my mother included and asked them what color outfit they were wearing and he'd send over a car to match the outfit. At night my mother and all the others left the keys in their cars and the cars would be driven off. This went on for months and months.
I was about 12 years old when I was in the pool and my mother was sunning herself... when two men in suits parked their car by the house and walked down to the pool. The men walked into the pool area and approached my mom. They pulled out their badges: FBI. My mother said to them "I have nothing to say to you, talk to my husband." They turned and walked away. As they walked away my mother called out to me "if anyone from the FBI talks to you say nothing. Nothing."
My Bar Mitzvah was in May of the following year. As we drove home from the big shindig party Saturday night my father said to us (me, my mom and three siblings) "we will never see Ed and Marilyn and the kids again. Tomorrow they go into a witness protection program."
My father arranged for Ed (the dealer) to become a state's witness.
The cars were picked up, scrapped for parts, and reported stolen to claim insurance. It was a mob operation. That summer three of us kids (the fourth was too small) were sent to far away camps because there were threats that we would be kidnapped.
My father also represented some people for this and that. And he was involved in business dealings for this and that. They are all dead now so I can talk about what happened. But I don't remember all the names.
I do recall one story that my sister and I laugh about to this day.
She was at college at Syracuse and she was invited to a party. And the student who was organizing the party said he knew our family. So my sister called my father and said "________ invited me to his party. He says his family knows our family." My father said "Don't go." You fill in the name.
I got a real kick walking thru the mob museum in Vegas. I'd love to show you my Bar Mitzvah album. We had photos taken of every table. What an album.
Those were the days before credit cards. I remember when my father would come home and he'd had $10,000 in hundreds on the dresser. That was when ten thousand was a lot of money. By the way, a new Cadillac was under $6,000.
Did your old man gamble in Las Vegas back in the day?
If so, any juicy tales?
Only once was my father in Vegas (that I know of). He had to "deliver" a client to the "authorities." They flew together on the plane. My father later told us he was worried because his client was sitting next to the emergency exit and he was afraid he would open the door during the flight. (OMG).
I was in maybe junior high school then. I asked him if he gambled. His answer "how can you resist?"
But I have better stories: when my parents had dinner parties while the ladies talked in the kitchen the men would play craps on the hardwood floor in our foyer near the living room. It was a simple craps game: passline or don't pass bets only. you either made your point or didn't. There was no layout or anything like that. They often used my Monopoly dice.
I have a feeling Alan doesn't understand the purpose of laundering money. The purpose is to take "unusable" money into "usable" money. Getting a $100k check and saying it's winnings then claiming a $100k loss doesn't do that, since there's no $100k profit. Just claim the $100k in winnings, don't write it all off as losses, now you have $100k profit for the year, you lose some % to taxes, and now have $70k+ you can legitimately spend.
You know, the mayor of Las vegas is largely a ceremonial position. No real power. Ribbon cuttings and things like that. The real government is the Clark County Commissioners, of which the Chairman is the real power broker. I think the Mayor does gavel the county commission meeting to order, but again that is just ceremonious. I don't even believe the mayor gets a vote on any issues.Quote:
Originally Posted by MisterV
Do I have to explain it to you slowly?Quote:
Originally Posted by RS__
There are NO $100,001 in losses. You only CLAIM the losses on your tax return to try to hide the illegal income from the IRS.
The LOSSES are a FABRICATION to cover up the illegal profits.
Is that clear now?
Geesh.
Yeah.....no shit. The problem is that in doing this, the way you presented it, you've earned no income/profit. All you've shown is a $1 loss.Quote:
Originally Posted by Alan MendelsonDo I have to explain it to you slowly?Quote:
Originally Posted by RS__
There are NO $100,001 in losses. You only CLAIM the losses on your tax return to try to hide the illegal income from the IRS.
The LOSSES are a FABRICATION to cover up the illegal profits.
Is that clear now?
Geesh.
Alan, what good is claiming $100K in profits when you report that you last that amount at the casino?
Since you reported it as lost, you cannot claim to still have $100K in now laundered care free cash.
I think what RS is trying to say is that the IRS or other feds could still question how you won 100,000, then lost the whole 100,000, yet still have 100,000 in your bank account. It is kind of like where Rob says he won 1,000,000 but was able to write it all off. Then people say that you didn't have a million profit, you had zero profit if you wrote it all off. But he says he still has the million.
Of course they could question it. The whole thing is illegal, isn't it? And if anyone looks hard enough they're going to catch the bad guys.
I've caught plenty of bad guys during my career. I even put them in federal prisons for mortgage frauds and all sorts of book cooking.
Any fraudulent scheme can come undone.
The question was how to launder money: this is a way to do it. And a way to defer taxes on the profit. Will it work? Only until someone looks hard enough.
Singer and Alan are "street smart". They're not going to tell you all of their secrets, either. The battle of the system versus advantage players.Quote:
Originally Posted by regnis
You have to figure that the authorities wouldn't question any of this stuff with a ten-foot pole. Lol.
(Yes, I jest, but these conversations become so f-ed up. Why? That is the question.)
OMGQuote:
Originally Posted by MisterV
Once again there was NO loss. You just claim a loss to sidetrack the IRS.
Gee. If I have a million dollars in the bank but say on my 1040 that I lost a million dollars.... do I still have the million dollars in the bank? Yes. Isn't that clear to you?
If you're going to commit a crime... go for it all the way.
If you are going to launder drug money, then tell the IRS you lost it gambling.
Duh.
LOL. This is really funny.
Yes, you do still have the million dollars in the bank. BUT...you still can't explain where it came from. You are showing a million dollar won and lost gambling....so that is a wash. You still have to explain where that million in your bank account came from. And believe me, not only the IRS, but the Financial Crimes division and DEA are all going to be closely taking a look at all your financials. You still can't explain where that money came from.Quote:
Originally Posted by Alan Mendelson
And this is exactly the problem that some professional gamblers / AP's have when they try to not report all their income/winnings. If you have large chunks of money in bank accounts or make purchase a home, or make other large purchases, you better be able to explain where those funds came from. Edit: AND you better be reporting it. :rolleyes:
Absolutely kewlj you can't explain where it comes from. Crime does not pay. Don't sell drugs and don't launder drug money.
You can explain where it came from if you just say you won it gambling.Quote:
Originally Posted by Alan Mendelson
@OneHitWonder, no, Alan & Stringer are the exact opposite of street smart. Sorta like how Rob uses his "soft profit system" so he can claim he always walks out a winner. Sure, he might have lost more than he won, but he still won something, so he's a "winner". Apparently Alan thinks you can do the same thing with illegally gotten money come tax season.
Meh, Alan's not worth wasting my time, neither reading his dribble nor responding to his idiotic ideas. Blocked.
OMG aren't you guys going a little bit crazy talking about theoretical criminal activity? LMAO
There is nothing "theoretical" about laundering money.
Alan's idea is for the birds.
Crooks launder large sums daily and get away with it, but not that way.
Yep my idea is for only what you can buy into at a casino slot machine or table game. For big money you'd do a business "bust out." But that's Money Laundering 102.
There are various articles on the web about money laundering and casinos. This thread was started with the question about casinos.
And here are the methods listed in Wikipedia:Quote:
Originally Posted by MisterV
Casinos: In this method, an individual walks into a casino and buys chips with illicit cash. The individual will then play for a relatively short time. When the person cashes in the chips, they will expect to take payment in a check, or at least get a receipt so they can claim the proceeds as gambling winnings.[14]
Other gambling: Money is spent on gambling, preferably on high odds games. One way to minimize risk with this method is to bet on every possible outcome of some event that has many possible outcomes, so no outcome(s) have short odds, and the bettor will lose only the vigorish and will have (a) "winning" bet(s) that can be shown as the source of money. The "losing" bets will remain hidden.
And here's the article: https://en.wikipedia.org/wiki/Money_laundering
If Mister V wants to discuss other methods of laundering big money I suggest he look at the full article which has ideas that range from buying banks to running the money through big businesses. But when it comes to casinos, this is pretty much how it's done and that's what he originally asked for.
By the way, if you ever saw the original documentary "Cocaine Cowboys" there is a news clip of me reporting about a bank in the Ft. Lauderdale area that was accused of being a "cocaine bank" because it was being used to launder drug money. Back in the 1980s when I worked at WTVJ in Miami I reported on every conceivable drug money laundering scam ranging from owning banks to buying and selling cars to high rise construction. There were no casinos in Florida back then.
On a gambling board, I think it's called straight-up mental illness.Quote:
Originally Posted by quahaug
@RS__ I was making a joke. On second thought, it's a good time to make my last gambling forum post, ever. Can't sink much lower than this.
Yes and No. One of the tests for money laundering via casinos is the "resource test" where they want to see if you actually have the resources for making the bets that win.Quote:
Originally Posted by RS__
Of course if you won the lottery with a $2 ticket no resource test is required. But casinos are different. Let's say they took a look at your check that was deposited. The check comes from "The RS Casino." The first thing the IRS and other investigators will do is see how that check was generated. Did it come from tables or slots or was there a $2 entry fee for a $100,000 drawing? If it came from table play or slot play they will want to know about the bets made including time, denomination, etc.
Here's where it gets sticky: money launderers are not going to play with a player's card. Okay, so what does the FBI and the IRS and the DEA do? They ask the casino to review the tapes.
Well... it gets stickier. It's unlikely the casino kept the tapes beyond 72 hours and it's likely the investigation into money laundering started months or even years after the actual check was written.
That's another way these "gamblers" can squeak through especially if it is done at different casinos without any regular pattern. I will also refer you to the various articles about using casinos to launder money. Just what I have been writing.
Of course if the money launderer has forged an ID he doesn't file tax returns and doesn't give a hoot about the IRS probing his taxes either. We never even discussed that but that is another way the money launderers hide.
https://www.youtube.com/watch?v=yciX2meIkXIQuote:
Originally Posted by OneHitWonder
OHW, your posts are confusing.
Sometimes they indicate that you are reasonably well-grounded in reality; at other times it's as if you're astral traveling in the bitter cold near the Oort cloud.
I think there is a difference between washing money and laundering it. Washing is exchanging bills (usssuly turning smaller bills into bigger ones). Oftentimes people think it's all one in the same. Even if you Google it people use the term washing instead of laundering.
It's best if you can do both at the same time and make money doing it. More on that later.
Quote:
Originally Posted by Alan MendelsonYes and No. One of the tests for money laundering via casinos is the "resource test" where they want to see if you actually have the resources for making the bets that win.Quote:
Originally Posted by RS__
Of course if you won the lottery with a $2 ticket no resource test is required. But casinos are different. Let's say they took a look at your check that was deposited. The check comes from "The RS Casino." The first thing the IRS and other investigators will do is see how that check was generated. Did it come from tables or slots or was there a $2 entry fee for a $100,000 drawing? If it came from table play or slot play they will want to know about the bets made including time, denomination, etc.
Here's where it gets sticky: money launderers are not going to play with a player's card. Okay, so what does the FBI and the IRS and the DEA do? They ask the casino to review the tapes.
Well... it gets stickier. It's unlikely the casino kept the tapes beyond 72 hours and it's likely the investigation into money laundering started months or even years after the actual check was written.
That's another way these "gamblers" can squeak through especially if it is done at different casinos without any regular pattern. I will also refer you to the various articles about using casinos to launder money. Just what I have been writing.
Of course if the money launderer has forged an ID he doesn't file tax returns and doesn't give a hoot about the IRS probing his taxes either. We never even discussed that but that is another way the money launderers hide.
Quote:
Originally Posted by AxelWolf
Put on your boots and get your shovels ready, It's time for some top of the line AP bullshit 101.
You fucken morons are getting pathetic without even a clue. The stupid meter went so far it snapped.
Blackhole ruining another good thread. His only purpose here is to troll. No useful contributions.Quote:
Originally Posted by blackhole
Wrong again Mickey… I’m tipping off outsiders that might not be familiar with most of this sites content, that what’s being said above is fantasy based on assumptions. In other words, unconfirmed bullshit as usual.Quote:
Originally Posted by mickeycrimmBlackhole ruining another good thread. His only purpose here is to troll. No useful contributions.Quote:
Originally Posted by blackhole
I’m looking forward to how to wash and launder money while making it. C’mon Axel, everyone is turning purple holding their breath for this AP move.
There you go again, equating AP's to crooks. You don't deserve any answers hair ball, so go fuck yourself.Quote:
Originally Posted by blackholeWrong again Mickey… I’m tipping off outsiders that might not be familiar with most of this sites content, that what’s being said above is fantasy based on assumptions. In other words, unconfirmed bullshit as usual. I’m looking forward to how to wash and launder money while making it. C’mon Axel, everyone is turning purple holding their breath for this AP move.Quote:
Originally Posted by mickeycrimmBlackhole ruining another good thread. His only purpose here is to troll. No useful contributions.Quote:
Originally Posted by blackhole
The only money you laundered was left in your pocket during the wash cycle. Even if it was at a lake by hand.Quote:
Originally Posted by mickeycrimmThere you go again, equating AP's to crooks. You don't deserve any answers hair ball, so go fuck yourself.Quote:
Originally Posted by blackholeWrong again Mickey… I’m tipping off outsiders that might not be familiar with most of this sites content, that what’s being said above is fantasy based on assumptions. In other words, unconfirmed bullshit as usual. I’m looking forward to how to wash and launder money while making it. C’mon Axel, everyone is turning purple holding their breath for this AP move.Quote:
Originally Posted by mickeycrimm
Get back to your job picking tomatoes, mental midget. Ask your boss for a 10 cent an hour raise.Quote:
Originally Posted by blackholeThe only money you laundered was left in your pocket during the wash cycle. Even if it was at a lake by hand.Quote:
Originally Posted by mickeycrimmThere you go again, equating AP's to crooks. You don't deserve any answers hair ball, so go fuck yourself.Quote:
Originally Posted by blackhole