Men, if someone wanted to send me money....

TomBrady#1

EOG Dedicated
and then I in turn send it to someone else (for a small profit), is that in any way illegal or wrong? Please guys, I am serious here. If someone sent me 5,000 via check and I send that to someone else 4750 (appr.) also via check. I am a litle suspicious of the reasoning for that obviously but that is what a friend is asking me. I am just trying to figure why and more importantly, what am I doing wrong (if anything) from my perspective. Any thoughts? Believe it or not I am serious. Thanks men!

**is this suspicious activity from the bank's point of view?
**Does the income need to be reported?
** He wants to do this a handul of times at least he says.


These are just a few questions that pop in my mind.
 
Re: Men, if someone wanted to send me money....

Let's test it.

You send me $5000, and I'll send you back $4750.

This rare opportunity is available to all EOG posters.
 
Re: Men, if someone wanted to send me money....

Is there a good reason for the banks and/or authorities to be suspicious???

:+clueless
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

Let's test it.

You send me $5000, and I'll send you back $4750.

This rare opportunity is available to all EOG posters.


Not your best joke Jeff. Your a teacher and semi smart. Any thoughts?
 
Re: Men, if someone wanted to send me money....

What do you want me to say? Some goofball sends you $5000? You can do anything you want with it.
 

Finance

EOG Veteran
Re: Men, if someone wanted to send me money....

Sounds like the definition of money laundering to me. I would run as far away as I could. Think about it - why would anyone do this if the money they were sending to the 3rd party was not tainted in some form?

$250 is not worth whatever risk is out there...
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

Sounds like the definition of money laundering to me. I would run as far away as I could. Think about it - why would anyone do this if the money they were sending to the 3rd party was not tainted in some form?

$250 is not worth whatever risk is out there...

To tell you the truth that is my EXACT thoughts when I heard.
 
Re: Men, if someone wanted to send me money....

Oh, here go the double secret probation conspiracy theories.

A guy sends you a check for $5000. You send a friend, total stranger, your Eliot Spitzer-quality prostitute, or your mortgage company a check for $4750.


There's a paper trail. How is that laundering?
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

Oh, here go the double secret probation conspiracy theories.

A guy sends you a check for $5000. You send a friend, total stranger, your Eliot Spitzer-quality prostitute, or your mortgage company a check for $4750.


There's a paper trail. How is that laundering?

Jeff, I do not know the exact answer, hence the question. Appreciate any feedback. So it is not? Thanks Jeff. I am not an expert on money laundering.
 
Re: Men, if someone wanted to send me money....

Again, anytime anybody wants to send me a check for $5000, I will send them back a check for $4750.

If that's what you call laundering money, this laundromat is open 24/7.
 

Journeyman

EOG Master
Re: Men, if someone wanted to send me money....

What if the check bounces, is it from a Bob Herman, Washington state?
 

Journeyman

EOG Master
Re: Men, if someone wanted to send me money....

Tom that isn't illegal but what they are doing may be illegal , these are pretty obvious answers though.
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

Again, anytime anybody wants to send me a check for $5000, I will send them back a check for $4750.

If that's what you call laundering money, this laundromat is open 24/7.


LOL. I get you. There has to be some motive. If that is irrelevant to me than fine. If that does not harm me then fine. That is why I am asking. Still very curious though.
 

The Devil

EOG Master
Re: Men, if someone wanted to send me money....

SOUNDS LIKE THE GUY IS STEALING THE MONEY FROM SOMEONE........EVEN IF THE CHECKS CLEAR.......I THINK YOU COULD BE RESPONSIBLE DOWN THE ROAD IF THERE IS SOME SORT OF FOUL PLAY WITH THE MONEY............
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

SOUNDS LIKE THE GUY IS STEALING THE MONEY FROM SOMEONE........EVEN IF THE CHECKS CLEAR.......I THINK YOU COULD BE RESPONSIBLE DOWN THE ROAD IF THERE IS SOME SORT OF FOUL PLAY WITH THE MONEY............


Something is up. It has to be, I would think.
 

The Devil

EOG Master
Re: Men, if someone wanted to send me money....

TOM......I WOULDN'T WORRY TOO MUCH....

THEY SAY THE FIRST YEAR IS TOUGHEST TO SERVE......

AFTER THAT YOU KIND OF GET USED TO PRISON......
 

The General

Another Day, Another Dollar
Re: Men, if someone wanted to send me money....

The only worry it seems is if you get audited and have to explain the inbound income, but if you just passed the buck, then I think you are in the clear. Claim the $250 I reckon and pay your taxes. If you honestly don't know what they are doing, then you would be fine I think. If you do know what is up then I think laundering may apply, depending on the actual use of that $4750. Good luck and smart of you to think this out in advance.
 
Re: Men, if someone wanted to send me money....

More than likely this wouldn't effect your unified tax credit when you die (gift Tax) since you are fowarding on funds.

I believe though by Federal Legal Codes, this is covered by the definition of money laundering. The money doesn't need to be reported by the bank as suspicious activity because they are checks which have a solid paper trail. Yet when the FBI comes knocking if this guy or the party you are fowarding the funds to get nabbed, the "WILL" prosecute you. They love convictions or better yet plea's and their favorite because it is easy is the head in the sand prosecution. You didn't know you were doing anything wrong but should have known.

Hope this helps even a little.
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

The only worry it seems is if you get audited and have to explain the inbound income, but if you just passed the buck, then I think you are in the clear. Claim the $250 I reckon and pay your taxes. If you honestly don't know what they are doing, then you would be fine I think. If you do know what is up then I think laundering may apply, depending on the actual use of that $4750. Good luck and smart of you to think this out in advance.


YEs General, this is my thinking pretty much sometimes as well.

I wonder who I can talk to legally to help me determine if this is ok??

Anyone?
 

TomBrady#1

EOG Dedicated
Re: Men, if someone wanted to send me money....

More than likely this wouldn't effect your unified tax credit when you die (gift Tax) since you are fowarding on funds.

I believe though by Federal Legal Codes, this is covered by the definition of money laundering. The money doesn't need to be reported by the bank as suspicious activity because they are checks which have a solid paper trail. Yet when the FBI comes knocking if this guy or the party you are fowarding the funds to get nabbed, the "WILL" prosecute you. They love convictions or better yet plea's and their favorite because it is easy is the head in the sand prosecution. You didn't know you were doing anything wrong but should have known.

Hope this helps even a little.


Makes sense. WHo can I talk to about this that is an expert on this topic? Thanks for the feedback.
 

The Devil

EOG Master
Re: Men, if someone wanted to send me money....

I THINK YOU NEED TO SEE IF THE CHECKS ARE HIS PERSONAL OR THEY ARE COMING FROM A COMPANY OR THIRD PARTY........

BEING A GUY THAT HAS SEEN 1000'S OF SCAMS.....I DOUBT THIS IS LEGIT...

EXPLAIN ONE GOOD REASON A GUY WOULD GIVE YOU 5% TO CASH CHECKS FOR HIM?????

WHY NOT JUST MAKE A CONNECTION WITH A CHECK CASHING PLACE AND PAY LESS THAN THAT PERCENTAGE????
 

Finance

EOG Veteran
Re: Men, if someone wanted to send me money....

Again, anytime anybody wants to send me a check for $5000, I will send them back a check for $4750.

If that's what you call laundering money, this laundromat is open 24/7.

That is different - you are sending them back the $4750 so they are in essence just giving you $250. In this case you are passing money to an unknown 3rd party for a fee - almost all money laundering has a paper trail - the reason it is "laundered" is to pass it through an innocent looking trail (such as Mr Brady) so it doesn't get caught -
Run Run Run away!!!
 
Re: Men, if someone wanted to send me money....

Dude. If you need $250 that bad I will just give it to you.

christ, what people will do for a dollar.
 

The General

Another Day, Another Dollar
Re: Men, if someone wanted to send me money....

YEs General, this is my thinking pretty much sometimes as well.

I wonder who I can talk to legally to help me determine if this is ok??

Anyone?

Look in the book and go for a free consultation. Should be many decent lawyers around to handle this question.
 
Re: Men, if someone wanted to send me money....

Tom,

Run Forrest Run!!!

Although I don't know all of the details (nor do I care to), I would run so far away from this position in a New York nano second....

I often write down a list of positives and negatives when weighing risks before making business decisions...

There is no doubt in my mind that there is a greater risk of something bad happening here than the benefit of you making 250 dollars for doing nothing my buddy...

Take it from somone who knows there are no free gifts in life...

Upside = Tax free $250...

Downside is horrendous!

Best of Luck on whatever you decide,

THE SHRINK
 
Re: Men, if someone wanted to send me money....

Tom, If you really want to get legal advice on this, then there are three things you can do.

1. Pay for a consultation to speak with a "FEDERAL" criminal defence attorney.
2. If you are from a reasonably sized area call the federal court house and track down the "FEDERAL" criminal defence public attorney
3. Call your local FBI office or US attorneys office. (Very bad idea if you even have a inkling of doing the business)

For your own good stay away from these deals.
 
Re: Men, if someone wanted to send me money....

General, have you been audited in the last 5 years? I know they used to be major pains, but now they just address what you need to show them to match your return and if you have it it works if you don't you "PAY".

They are leaving bank account transactions and things like that to the Justice Department now.
 
Re: Men, if someone wanted to send me money....

Now wait a minute.

Isn't everyone on the site blatantly ignoring the current US policy on Internet gambling, yet you all are giving advice to Tom on checking with this and that "Federal attorney" to stay out of trouble?

Too funny.
 
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