Cash gIft given to me for my brother

[jenin]

What is the name of your state? Florida
I live in US and lost a lawsuit as a defendant and I owe money to the judgment creditor. Few days ago, I visited my extended family in another country and they gave around $9000 cash gift to my brother but gave that cash gift to me requesting me to give it to my brother who also lives in US. I deposited that cash in my brother’s bank account and the bank teller noted down my driver license details. Will it be treated as fraudulent transfer http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0726/0726.html ? Kindly note that I simply carried that money from another country on behalf of my brother.

 

[adjusterjack]

That was really stupid. I don't know why people think they need to send cash, and right under the 10,000 that banks report to the government. There is nothing illegal about it. All your family had to do was a wire transfer to your brother or even just written him a check that you could have handed him to deposit himself.

Now your name is attached to the money. If your judgment creditor somehow finds out, he could go to court and "allege" that it was a fraudulent transfer and then you would have the opportunity to prove that it wasn't, probably at great expense and inconvenience to you.

Or, nothing may come of it at all.

 

[Taxing Matters]

What is the name of your state? Florida
I live in US and lost a lawsuit as a defendant and I owe money to the judgment creditor. Few days ago, I visited my extended family in another country and they gave around $9000 cash gift to my brother but gave that cash gift to me requesting me to give it to my brother who also lives in US. I deposited that cash in my brother’s bank account and the bank teller noted down my driver license details. Will it be treated as fraudulent transfer http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0726/0726.html ? Kindly note that I simply carried that money from another country on behalf of my brother.

It's not a fraudulent conveyance if you present the case correctly. It's not even certain that the bank will report the cash deposit. The teller takes that information in the event other cash transactions are made by you at that bank in a way that suggests structuring to avoid reporting. It would have been better to just hand off the cash to your brother and then this would never even come up. Remember that should you be in the same situation of being asked to carry cash for someone else.

 

[Litigator22]

What is the name of your state? Florida
I live in US and lost a lawsuit as a defendant and I owe money to the judgment creditor. Few days ago, I visited my extended family in another country and they gave around $9000 cash gift to my brother blah, blah, blah . . . . Will it be treated as fraudulent transfer?

No . . . . not necessarily. Provided you can bribe/blackmail the judge sitting on the case to ostensibly embrace this patently fabricated myth. (That or the judge happens to be your mother.)

Plus, you are willing to risk imprisonment for committing perjury!

 

[LdiJ]

What is the name of your state? Florida
I live in US and lost a lawsuit as a defendant and I owe money to the judgment creditor. Few days ago, I visited my extended family in another country and they gave around $9000 cash gift to my brother but gave that cash gift to me requesting me to give it to my brother who also lives in US. I deposited that cash in my brother’s bank account and the bank teller noted down my driver license details. Will it be treated as fraudulent transfer http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0726/0726.html ? Kindly note that I simply carried that money from another country on behalf of my brother.

Then why didn't you give the cash to your brother and let him deposit it into his account himself? Why did you feel the need to do it for him? You caused a potential problem totally unnecessarily.