Money Laundering: How to?

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SmokinErb22

Member
I'm just wondering how do you guys clean your money? I'd really like to buy houses, and obviously that's not as easy as taking cash and buying the damn thing. Nor is it as easy as just getting a home loan and then paying it off very quickly by paying like 5x the mortgage amount.

So, how do you guys keep the IRS at bay? Or do you just sit on the cash? Up until recently I just used the cash for petty purchases - food, clothing, entertainment, etc. Looking to change that and use it for purchasing a home.
 
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cricket101

Active Member
I think he just means, when he makes profits from growing, how can he use that money without getting the IRS's attention for spending way more than he makes at his day job.

What's wrong with profiting from plants? How is that bad?
 
Popcorn900

Popcorn900

Well-Known Member
cricket101 said:
I think he just means, when he makes profits from growing, how can he use that money without getting the IRS's attention for spending way more than he makes at his day job.

What's wrong with profiting from plants? How is that bad?
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Do I really need to answer that? GROW FOR PROFIT is what causes us medicinal growers a lot of grief. I would love to see all you GFP peeps sitting in jail were you belong. My guess he doesn't even smoke weed either just straight for profit.
 
Doer

Doer

Well-Known Member
It is not that difficult. You don't have to sit on dirty money.

A washer on gentle cycle and the low temp setting on the dryer work just fine.

Seriously. The problem is not IRS unless you are tax cheat. Don't be a tax cheat.

Having been a loan officer, I can tell you the main thing is a trail for the money. They cannot let you borrow the down payment. So, money that just shows up at the last minute is suspect. Don't even do transfers after the paperwork.

So, I did this. Take the cash and buy gold, slowly over years.....or at least that was my story. :) In the end the lender just wants the payments. And you don't want to pay all cash or even pay it off quickly. That is the IRS red flag.

So, I took the cash ($20K I remember, for the first house) and deposited it in bank accounts, under $10K is not reported to IRS.

Then, before the the house went into escrow. I did transfers from those accounts into one, cash account for the purchase. Normally that is the red flag, first off, as I said. But, being an insider, I knew, in the end, all they need is an explanation, that is plausible. They want to move on and collect the fees. As long as they have a story that lets them proceed, they are fine.

And that story is in the form of a handwritten note....like a confession. So, what story? Private gold sales, of course.

So, put the paper ducks in a row. Cover the cash trail with a plausible story. I even had a few gold purchase receipts, but they were only interested in the sales that gained the funds.

I wrote, on a legal pad, it was a private investor and he will not be named. He prefers to remain anonymous.

And the main thing I did that was sneaky, was that I established those under $10K accounts, very early in the process, before I looked for a house.

So, the paperwork was solid on those feeder accounts. It did not appear as if I went out and threw $25K into a few accounts the day before. The accounts were established across a range of times, and so the money added, also, was in pieces over time. I was selling gold, to private parties.

In the end it was just a handwritten note of a good story. Gold seems quite plausible even today, but that was 20 years ago. So, eyes wide open, OK?

Cut, print, that's a wrap. Instant landlord.
 
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cricket101

Active Member
Well i grow an anti-anxiety strain for myself, and only began selling on a very small scale when a friend told me my product was good quality.

I understand your concern with giant commercial growers, but I see no harm from me selling my leftovers to friends now and then.
 
Popcorn900

Popcorn900

Well-Known Member
cricket101 said:
Well i grow an anti-anxiety strain for myself, and only began selling on a very small scale when a friend told me my product was good quality.

I understand your concern with giant commercial growers, but I see no harm from me selling my leftovers to friends now and then.
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Selling a few grams here and there is not the problem, I do that myself.
 
Popcorn900

Popcorn900

Well-Known Member
cricket101 said:
The original poster did say he plans to buy houses. But I'm much smaller scale than that.
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Yes he did and that leads me to believe he is a commercial grower and should be sitting in jail. But this is just my opinion and the opinion of many Canadian medicinal growers.
 
Doer

Doer

Well-Known Member
IAC, I was dope dealer long before I grew. Growing is not the only need for laundry.

We have 2, legal to grow States here already. The dam may burst with 2 or 3 more this coming fall.

So, while I agree with you, in Spirit, and have said as much before. In practice, we are much more legal now, than Canada. So, I have to go with the flow or learn how to twist. :)

Not only that, in the USA we have the 9th Amendment, that says we can do anything not strictly illegal, and those bounds we have a Duty to lean on. Even, or should I say, especially our various govts, do that....lean on the laws, take it to court, etc.

It is not the same in Canada. Not saying what you have is bad...just different.
 
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cricket101

Active Member
Doer, where can a common citizen like me buy gold? And how do they sell it? Like are there different sizes and amounts, or is it sold in giant gold bars like in a movie lol
 
SharpEdges

SharpEdges

New Member
cricket101 said:
Doer, where can a common citizen like me buy gold? And how do they sell it? Like are there different sizes and amounts, or is it sold in giant gold bars like in a movie lol
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Pawn shops sell gold, well, some of them. They also buy it. You'll lose a little on each transaction.
 
Doer

Doer

Well-Known Member
cricket101 said:
Doer, where can a common citizen like me buy gold? And how do they sell it? Like are there different sizes and amounts, or is it sold in giant gold bars like in a movie lol
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I don't know. It was just my story, 20 years ago.
 
Popcorn900

Popcorn900

Well-Known Member
SharpEdges said:
So, how is it that you don't deserve to be in jail like you said about the OP?
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Gain some rep before you flame. Selling a gram or two is fine between friends but selling pounds for straight profit...........whatever I'm done with this thread.
 
justugh

justugh

Well-Known Member
i know a simpler way to do it

the cash u make from selling ..............u go and get silver or gold from a store ( the bars or the coins )
now u take those and place them someplace outside your home/grow area where only u know it is (if u get caught doing it they can not find it)

as silver and gold go up in value the money u invested into them is getting u more money

now when it is time to cash out u have options .............sell back to same ppl /sell it to jewerly makers/sell it in a pawn shop


now the bad money has been cleaned to good money and u are a silver trader
the money made from the silver/gold sale can be put into a bank account with out fear of it getting taken since u can prove where it came from (if u are still growing at this time it can be taken u must stop when u cash in )

now here is the tricky part u get the gold/silver and u must sit on it for atleast a year if not longer ...................this is to cover your ass later the longer u sit on it the better it is for u as the price of it goes up and when u are asked how u got your start funds u can reply back i borrowed cash from buddies and then got the silver sat on it for some time sold it repaided them ......then took the profit and re did it

with enough time passed and good buddies this story can not be proven false so the silver/gold/money can not be taken legally
 
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