It's illegal to have large amounts of cash?

[The Rabbi]

I was wearing a nice grey turtleneck, slim black leather dress coat and dress gloves. Someone at work has called that my "German assassin" look

I'd call it your metrosexual goth look.   

Bah. It also included a stainless Millenium Pro .45 carried small-of-back. Metrosexual goths are generally leftists who are terrified of guns and don't carry.

Millenium Pro, eh.  Did it have the petty pink grips??  Huh? What?

[Perd Hapley]

Manedwolf, that is hilarious.  Taking this a bit too hard, are we?  I'm sorry, but no gun, no matter how big, can make up for a turtleneck.  Besides, wasn't it concealed?   

[roo_ster]

MW:

Don't listen to them.  They're just jealous 'cause they couldn't pull off that look...especially the "slim" part*.



* Neither could I.

[jeepmor]

Regardless of your SNL "Sprockets" look, you got your money, right?

Now we dance!!! .....bad Euro disco background music please.

Are there any court precedents to look up in regards to this type of illegal seizure?  I'd be interested in some real data if it's out there.

[vernal45]

Remember, this is happening under the Bush administration.

It happened under the Clinton years also.

[wmenorr67]

Didn't it start during the Clinton years?

[Gewehr98]

Manedwolf:

"You may touch my monkey!"   

[The Rabbi]

Wanna bet?
Delaware. 1990. Man, without prior record, carrying $100K cash, stopped and sniffed. Money confiscated in a case styled, US Government v. One Hundred Thousand Dollars in US Currency. (They charge the property because it makes it more difficult for the owner to prove "standing" in court.)

The burden of proof was not on the government but the bearer. The money was "guilty until proven innocent". The bearer claimed he was headed to Western North Carolina in search of land deals. In Court he produced his money backer, complete with cash withdrawal history from legal bank accounts; a man who could document his income and who had an un-impeachable background. That backer was yours truly. The money was mine. It no longer is. In the end, the Judged decided that we had not sufficiently proven my ownership of my money.

True story.
Rich

Edited to remove language that wouldn't be tolerated on other forums, let alone this one. Who hands over $100k in cash to some guy to search for land deals in N.C.??  What moron is so inept as to allow the fact that he is carrying that much money to become known to anyone, much less LE?
It is no wonder the money was impounded.  The story is totally improbable, and I am sure there is just a bunch more we're not being told.

[zahc]

My father, who owns a trucking company, has witnessed people buying things like bulldozers and whatnot in cash, in amounts over 50,000.

[Ned Hamford]

My father, who owns a trucking company, has witnessed people buying things like bulldozers and whatnot in cash, in amounts over 50,000.

Obviously to work on their pot farms. 
Lets not question the system, nothing to see here.

I'm skeptical as the mentioned true story seems like something talk radio if not the popular media would go wild with...

[Monkeyleg]

Rabbi, are you familiar with Rich Lucibella?

[HankB]

One of these days, someone is going to hunt down the "seizers" and . . .

Never mind.

[The Rabbi]

My father, who owns a trucking company, has witnessed people buying things like bulldozers and whatnot in cash, in amounts over 50,000.

That probably is unusual but not unheard of.
But careening around the country with $100k in cash ostensibly to "buy property" strains credulity.  It is unheard of outside of the drug community.  The risks are enormous as the money can easily be lost or stolen (or confiscated).  THere are many far better ways to transport money.  I would have liked to hear the explanation as to why business was being done that way.  I'll bet it was a doozy.

[DJJ]

As if careening around the country with "$50,000 for a bulldozer" is any more credible.

Not to say it isn't credible, but saying one is believable and one isn't, is indefensible.

[The Rabbi]

As if careening around the country with "$50,000 for a bulldozer" is any more credible.

Not to say it isn't credible, but saying one is believable and one isn't, is indefensible.

No one said anything about "careening around the country with $50k for a bulldozer."

[DJJ]

I did. If having $100k in cash for a real estate deal constitutes "careening", so, too, would having $50k for a bulldozer. If not, why not?

[wmenorr67]

People usually don't careen around the country with any amount of money looking for bulldozers.

[DJJ]

My point to The Rabbi was, $50k in cash for a bullldozer is not unheard of, but $100k for a real estate deal is considered "careening", and must be drug money. Why the difference? Why the double standard?

[cassandra and sara's daddy]

its not that unheard of rabbi. i've done it more than a few times  gotten visits from the feds a few times over it and was always able to show em the paper trail and make em go away. its not that much diffferent than buying a used car  dicker a while then show them some cash   you'd be surprised how a few bundles of benjamins can make a property owner bridge the final gap bwteeen what you wanna pay and his asking price. i build houses and pay cash for materials and subs. the guys like knowing that if they call me at 3 pm say they'll be done at 5 i'll be there and they can go home paid in full. especially if they are working weekends.  i get a lotta odd looks from folks cause i don't look like money  look more like salvation army shelter.

[The Rabbi]

My point to The Rabbi was, $50k in cash for a bullldozer is not unheard of, but $100k for a real estate deal is considered "careening", and must be drug money. Why the difference? Why the double standard?

Do you have any idea what I mean by "careening around the country"?
In the story quoted the individual's money was taken in DE while he was on his way to NC.  That is not going down to your local Dodge dealer with $15k cash in your pocket.  It is not paying your subs in cash for a job.  It makes no sense whatsoever, outside of being drug money.  Which is what the Feds suspected.

[Paddy]

People don't do real estate deals in cash.

[The Rabbi]

People don't do real estate deals in cash.

I've heard of it.  But it is very frowned on.  Unless the real estate has had wheels attached to it at some point.

[cassandra and sara's daddy]

people do indeed do real estate in cash  i handle that for my old boss.  perversly he trusts me with lots of his cash.  and i've travelled from va to florida with 75 k for him to pay for 2 race horses.its not with out risks but cash means leveraage in some circles

[cassandra and sara's daddy]

in the last 36 months we've done over 2 mill in real estate deals cash. we prefer to meet folks at their bank if we can so they can feel safer and for our protection as well.

[Headless Thompson Gunner]

Wanna bet?
Delaware. 1990. Man, without prior record, carrying $100K cash, stopped and sniffed. Money confiscated in a case styled, US Government v. One Hundred Thousand Dollars in US Currency. (They charge the property because it makes it more difficult for the owner to prove "standing" in court.)

The burden of proof was not on the government but the bearer. The money was "guilty until proven innocent". The bearer claimed he was headed to Western North Carolina in search of land deals. In Court he produced his money backer, complete with cash withdrawal history from legal bank accounts; a man who could document his income and who had an un-impeachable background. That backer was yours truly. The money was mine. It no longer is. In the end, the Judged decided that we had not sufficiently proven my ownership of my money.

True story.
Rich

Huh??  Hasn't this guy ever heard of a cashier's check?

Edit:  Hmm, looks like I should have read the whole thread before posting...