Hypothetically say one has built a somewhat substantial amount of illegal money (in the 30k range) and wants to store it, what are some methods of turning that into more legal and easily bankable money
Cleaning Money
Hypothetically say one has built a somewhat substantial amount of illegal money (in the 30k range) and wants to store it, what are some methods of turning that into more legal and easily bankable money
[27 Points] None:
[5 Points] Dirtysmallones:
30K isn't really a huge amount to most banks, as long as you present it correctly.
Expensive hobbies are a good cover, because paper trails are pretty much nonexistent.
A good example is Pinball. A lot of machines are going for 7 - 8K easy. Most sellers accept cash only. Even for the high priced ones. Also, there is usually no paper trail due to machines changing hands a ton.
I know a guy that was worried because he was selling two for around 13K Cash.
He called the bank, told them about the sale, and asked if they needed any paperwork or any other type of proof.
The teller told him that 13K is nothing, and no proof was needed.
He sold em. Took that fat wad of cash down to the bank, and deposited it with no issue.
I say open an account at 3 banks over time, and just deposit 1/3 into each.
[2 Points] trickricksick:
casino is the only one i know
[2 Points] None:
That's the sort of money where it isn't a big deal until it's a big deal. Anything over 10k gets reported to the irs, and multiple deposits 1-2k shy of 10k getting deposited within a relatively short period of time will look more suspicious, and also be reported. (Assuming US)
[2 Points] Ketsa:
"I bought bitcoins in 2011 and sold them"
[1 Points] CDRCRDS:
Didnt you watch breaking bad? Cash based business. Become a personal trainer or holistic therapist. Charge up the ass and file your business. Keep your creditlines maxed out so you dont pay certain taxes keep cash in safet deposit boxes in trust to a family member.
[1 Points] deliciousbuttermmm:
everybody is suggesting things they've heard about on the internet without noticing that you can't start a casino or even a laser tag place with only $30k to invest.
[1 Points] Hansbald:
Cash out the BTC for cash and keep cash in a hidden place, buy physical items online with BTC, or buy/create a small business
[1 Points] polaroidandroid1:
30k range? Is that a one time wash or a recurring income?
If it is not recurring it is not much of a worry; rent a locker and stash it in there; use the cash for fuel groceries new tires what ever can be bought with cash. 30k is nothing really, and professional money launderers will easily charge you around 25k to consult them about laundering your money.
So best thing to do is spend that safe and wisely.
[1 Points] polaroidandroid1:
Hell buddy, if you keen on saving for a rainy day, buy BTC for cash with 10k of dat dough, and stash the coins in a hardware wallet. It gonna be helpful sometime.
[1 Points] tragicduck:
Keep it in a hidden spot in your home and use it for your daily expenses paying in cash: food, gas, electronics, trips, good restaurants. Save everything else from your salary to get a car or stuff like that. 30k is not a lot, not worth the risk/losing % to louder it.
Buy a laser tag place. Or a car wash.