Originally Posted by AxelWolf View Post
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.
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.

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?