Re:The Slow Criminalization of Peer-To-Peer Transfers
by firethief on Friday June 02, 2017 @10:33PM
(#14474682)
He might have been better off laundering it.
Re:The Slow Criminalization of Peer-To-Peer Transfers
by mirimir on Friday June 02, 2017 @11:18PM
(#14474832)
Or keeping it as cash. Or buying gold informally.
I mean, why put it back into the system?
Re:The Slow Criminalization of Peer-To-Peer Transfers
by joering2 on Saturday June 03, 2017 @04:06AM
(#14475488)
I should add his wife was an older date and back then people did not trust banks like they used to nowadays. So her husband respected her point of view. Once she passed away he simply didn't want to keep that kind of cash at home.
Re:The Slow Criminalization of Peer-To-Peer Transfers
by mirimir on Saturday June 03, 2017 @04:14AM
(#14475500)
I rather got that. And it's a sad story.
It's pretty clear that his wife was right about the financial system.
Re:The Slow Criminalization of Peer-To-Peer Transfers
by XorNot on Saturday June 03, 2017 @03:25AM
(#14475406)
I like the buried lead here - you jump from "inconvenienced restaurant owners" to over half a million dollars under floorboards. That's taking, conservatively, >$10000 a year of losses from cash rate interest alone just sitting there.
It is already known restaurants owners are getting in trouble for small deposits. Its not even $10,000 or $9,000 you deposit.. if you happen to make daily deposits of even few hundred dollars you are guilty of "structuring" aka smurfing.
Another thing is to make sure you can track back your physical hoard of cash. My friend's father is in deep explanations with FBI (and over $50,000 in attorney fees) because when his wife passed away he took all the money they hoard at home under floor and put it in the bank. Some $600,000 of it. IRS didn't like that and proving you had a job all your life and you paid taxes on Over $10,000,000 in income did not stop the case.