https://www.reuters.com/markets/billionaire-investor-mark-mobius-says-he-cannot-take-money-out-china-fox-2023-03-05/

"I can't get an explanation of why they're doing this ... They're putting all kinds of barriers. They don't say: No, you can't get your money out. But they say: give us all the records from 20 years of how you made this money ... This is crazy."

  • Sphere [he/him, they/them]
    ·
    2 years ago

    A friend of mine told me about a guy in California who made almost a million dollars in what I'll call less-than-legal ways (weed), who sadly didn't know about AML stuff, and decided to put it into the bank. Obviously that landed him in court, where some asshole judge told him he could have it all back. Except he had to say how he made it. In that moment, of course, the guy knew he was never getting his money back. :sadness:

    Seems to me that this asshole ought to be subject to the same rules. He should count himself lucky he's not looking at one of these :gui:

    • StellarTabi [none/use name]
      ·
      2 years ago

      decided to put almost a million dollars in the bank

      I hope you mean he woke up one day and deposited it all at once, that'd be the funniest version of this story.

      • zifnab25 [he/him, any]
        ·
        2 years ago

        Even if it wasn't all at once, you can only show up with duffle bags of cash so many times before people ask you to launder it properly.

          • Awoo [she/her]
            ·
            2 years ago

            Launder money the proper way through a casino smh.

              • Awoo [she/her]
                ·
                2 years ago

                Is that mostly the slots thing?

                I'm actually talking less about that and simply on about the fact that any form of gambling is a simple and easy way to launder money with a reasonably assumable % win rate (especially on certain games) where the casino takes a cut for being the middle man of the laundering exchange. They do not care where the money comes from, and the money you get back from them is simply "won from gambling". Laundered perfectly fine.

                • supafuzz [comrade/them]
                  ·
                  2 years ago

                  there isn't even a loss percentage with the Aussie slots. you put the money in the machine, you take the money out without playing a game, and now your cash is gambling winnings.

    • emizeko [they/them]
      ·
      2 years ago

      what does AML stand for here. A____ Money Laundering? I know it's not Acute Myelogenous Lukemia

    • MaoistLandlord [he/him]
      ·
      2 years ago

      Couldn’t he just say something like “I’m a day laborer” or something

      • Sphere [he/him, they/them]
        ·
        2 years ago

        He'd need some way to prove that in court (minimally, an affidavit from the employer who paid him that much money, but preferably pay stubs). And since that isn't true, such a claim would be perjury.