Clean Money That Appears Dirty

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In going thru the possessions of a deceased family member I discovered a shoebox full of cash. How do I get this into circulation without looking like a drug dealer. Last time I checked it is not against the law to stuff cash into you mattress but it seems like it can be difficult depositing it once you decide to use it.

Comments(16)

  • joel23rd November, 2003

    Just start using it, I guess.

  • Tedjr23rd November, 2003

    I believe $10,000 is the majic number that you can deposit or withdraw without sharing information with the government. You could send some to me too. I will pay you 15% interest and secure with a mortage or truck or ???

    Hope this helps some

    Ted Jr

  • telemon23rd November, 2003

    Open bank accounts with no more than 9k and the government will not get wind of it, additionally use different banks as well.

  • NoMoreDreamin23rd November, 2003

    Thanks to all for the info!

  • InActive_Account23rd November, 2003

    Banks are now required to notify whomever they are required to notify of deposits of $5,000.00 or any banking transactions that are suspect.

    This change went into effect a one to two years ago.

    Phil

  • InActive_Account24th November, 2003

    Please do not follow the advice of telemon!!!!

    The actoin of opening multiple bank accounts and depositing less than 9k in each is against the law and can get you put in jail and fined, those tactics are called STRUCTURING.

    Structuring is illegal. It is employing any methods of purposefully and knowingly breaking up large amount of cashs into smaller amounts to avoid detection by the IRS.

    That is the last thing you want to do.

    If this is clean money as you state you have nothing to hide. If you don't want to be mistaken for a criminal don't start acting like one!

    Depositing large sums of cash in a bank is not against the law, in fact I recommend doing it on a routine basis and as often as possible, it is a great way to end up filthy rich.

    [ Edited by The-Rehabinator on Date 11/24/2003 ]

  • DerrickAli24th November, 2003

    PhilH:

    Is K-REKT!!!

    You can AVOID (not EVADE) IRS scrutiny with deposits of $,999.99 or LESS!

    Hope this helps!

    Derrick

  • dgtop24th November, 2003

    Use the money to buy money orders and pay all bills. Mortgage/credit cards/car loans with them. This will be the least detectable method. And maybe once or twice a month put 2k of cash in your bank account

  • InActive_Account24th November, 2003

    I think this is the wrong forum for this type of question and information..

    I'm hoping that the money is clean. The source could have been from some individual who didn't trust bank. Whether he paid taxes on it , or obtained it form illegal sources is the question and the answer should come from somwhere else.

  • gamado24th November, 2003

    go to vegas!

  • flacorps26th November, 2003

    Quote:
    On 2003-11-23 09:45, NoMoreDreamin wrote:
    In going thru the possessions of a deceased family member I discovered a shoebox full of cash. How do I get this into circulation without looking like a drug dealer. Last time I checked it is not against the law to stuff cash into you mattress but it seems like it can be difficult depositing it once you decide to use it.
    First, are you sure you're entitled to the money at all? If there's a valid will, it decides where property and money go (in the absence of an overriding statute), and if there isn't will, the statutes of intestate succession decide that.

    If you're not the actual heir to that money, you're stealing from the estate.

    Otherwise, you might want to have a family member with knowledge of the events sign a notarized affidavit as to the amount of money found, where and how and when it was found and who it belonged to. Tuck that away somewhere.

    At that point, you can decide whether you want to just spend that money here and there on your lifestyle, or deposit it in one lump sum and deal with the CTR/SAR (Currency Transaction Report/Suspicious Activity Report) process your bank will have to go through.

    But you don't want to be "structuring" your deposits to attempt to avoid the CTR law. That, in and of itself, is a criminal intent that lets the government grab the money at the very least. At most, you can do jail time.

    Far better to do things right.

  • DaveREI26th November, 2003

    Quote:
    On 2003-11-23 09:45, NoMoreDreamin wrote:
    In going thru the possessions of a deceased family member I discovered a shoebox full of cash. How do I get this into circulation without looking like a drug dealer. Last time I checked it is not against the law to stuff cash into you mattress but it seems like it can be difficult depositing it once you decide to use it.


    pay cash for everything... gas... food... go to utility co. and prepay 6 months...etc... bury it...... dont deposit it.....

  • telemon26th November, 2003

    My comment was regarding how to avoid gov scrutiny. I am not a lawyer and would never intentionally instruct anyone to do anything illegial which leads me to another thought, ask your attorney what to do.

  • WheelerDealer1st December, 2003

    How much money anyway..long post especially if its only a few g's

  • Lufos1st December, 2003

    Some time ago I helped settle the estate of some lovely old Chinese relatives who had a habit of sticking money and gold coins all over the house.

    We finaly decided to round it all up so we searched the house and we found it everywhere. Talk about cold cash, that was the refrig. The gold coins were mostly in shoes. Strangely enough no money in the mattresses. But the desk under the drawers.

    All in all about $20,000 and the gold coins I took to an appraiser and they totaled about $15,000.

    The will was set to feed to a Family Trust so I just made deposits divided under $9,000 a deposit in two of the five bank accounts.

    Of course so much was coming into the rental accounts each month. I guess the Federales just ignored the deposits. The Gold coins were used as Christmas Presents for the children. Mostly St. Gaudien $20 Gold pieces Now thats a real present..

    I had no claims filed or examinations made. Just a simple estate. God I love family trusts they do make life easy.

    The simple way is probably the best way.

    Quietly Lucius

  • NoMoreDreamin1st December, 2003

    Wheeler - It's much more than a few G's. As for the post concerning the will, good point but it is legally mine in accordance with the will.

    Thanks All

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