Found large sum of money, want to put in bank.

[tranquility]

My post was more a "how can we get around this" mental exercise than advice.

Get around what?

That what is where the crime you are advising the OP to commit comes from. If there is to "this" here, we don't need to get around anything.

 

[Antigone*]

@Prosperina: Please don't be so quick. I'm more reasonable than many here, who are fast to be hostile...

Pro, honey this is a definite 10-37 squared

 

[BOR]

I "necroposted" because someone was given legally and factually horrible advice (worth far less [maybe tens of thousands less]) than the price paid for it and my sole intent was to keep others from being misled by people pretending to know *anything* about Texas law.

The poster of the thread said he found it in OHIO, not Texas.

If you read what I posted about Ohio law on Property, if I was in error, correct me.

 

[justalayman]

All legal and ethical aspects aside, if you want to keep it you need to launder it. Doing so is simple: Start *living* on a small portion of that money every month. Use it to buy gas or groceries or whatever. Make sure to also use your bank account to purchase those items here and there.

Since you won't be spending as much from your checking account each month, you'll have extra to move over into a savings account.

Voilà, you have deposited the money in the bank without really doing so.

Should all work out until you find out those are marked bills from a kidnapping/ransom/murder case and you end up in the middle of it.

You need to launder it.

that really says it all.

 

[BOR]

You need to launder it. that really says it all.

Back in the early century you really could launder some money/bills, wash it that is.

 

[RV9Factory]

The poster of the thread said he found it in OHIO, not Texas.

If you read what I posted about Ohio law on Property, if I was in error, correct me.

BOR - The horrible advice re Texas law was on a different topic. It had nothing to do with this thread or your post.

 

[Proserpina]

I laundered money just this last week actually. My husband was not too impressed, though his two $50 bills did smell really pretty (Gain Apple Mango Tango if you must know).




(Seeing as the thread has gone to heck anyway...)

 

[RV9Factory]

You need to launder it.

that really says it all.

No, not at all. I used the term "launder" because it best describes the process. Whether it is legally "money laundering" depends on whether the money was illegally obtained, which hasn't been established yet, as far as I know.

I dismissed the legal issues surrounding keeping the money because I have no idea what Ohio law says and frankly, don't care to look it up.

The OP asked how to get the money into his account without triggering reporting and I merely pointed out a practical and LEGAL way to do so. OF COURSE he is obligated to report the income and/or pay taxes on it. That is an entirely different issue that he can address as he sees fit.

 

[justalayman]

money laundering as being legal?

from the OCC

Money laundering is the criminal practice of filtering ill-gotten gains or "dirty" money through a series of transactions, so that the funds are cleaned to look like proceeds from legal activities.

I don't know any legit business man that would ever consider "laundering money" to be a legal method of transferring money.


Oh, I get it now. No legit business man would think of it that way.

 

[TigerD]

The poster actually advised the OP to commit a crime -- is that enough to request he be kicked?

DC

 

[davew128]

No. That would be the conclusion of a simpleton. Know any?

I'm responding to one.

Only Illegal if the funds are first illegally obtained. Depends on the state, but funds *must* first be illegally obtained before they can be laundered.

Well THAT'S not true. I can think of two situations right off the bat where money can be laundered and it doesn't involve illegal activity.

 

[Country Living]

Let's stop feeding the troll.