WSJ on Money Laundering
Check out the latest (June 9th, 1997) Wall Street Journal. On page B1 there is an article on the wave of money laundering convictions for non-drug related crimes. In fact, the article points out that just about any monetary transaction can be declared money laundering. (And get upheld in court!) And the reasons behind this? Long terms and lots of ready cash for the feds. "Property Seizure: It's not just for drug crimes anymore!" alano@teleport.com | "Those who are without history are doomed to retype it."
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Check out the latest (June 9th, 1997) Wall Street Journal. On page B1 there is an article on the wave of money laundering convictions for non-drug related crimes. In fact, the article points out that just about any monetary transaction can be declared money laundering. (And get upheld in court!)
And the reasons behind this? Long terms and lots of ready cash for the feds.
"Property Seizure: It's not just for drug crimes anymore!"
This has been going on since the seizure laws were passed. The acusation of any feloney gives the Gestapo (Federal, State, & Local) the power of confescation (conviction is optional). Not much different than the RICO laws. I would be suprised if 1 out of 10 RICO cases were actually against "orginized crime". - -- - --------------------------------------------------------------- William H. Geiger III http://www.amaranth.com/~whgiii Geiger Consulting Cooking With Warp 4.0 Author of E-Secure - PGP Front End for MR/2 Ice PGP & MR/2 the only way for secure e-mail. OS/2 PGP 2.6.3a at: http://www.amaranth.com/~whgiii/pgpmr2.html - --------------------------------------------------------------- -----BEGIN PGP SIGNATURE----- Version: 2.6.3a Charset: cp850 Comment: Registered_User_E-Secure_v1.1b1_ES000000 iQCVAwUBM5yuYY9Co1n+aLhhAQGdGAP+IEUg1I/i8KPCBrQmpaHbBwX7vFrO6N5U kIi21MAcWfkuRYMTte+9gnAyi1xyHQsGnvXoYBK9zNQK3H35gKCEbLwIDj0kJoFQ yBJrHkDOz8FBQDH5hPiCgu+Pf9ps9u9PKHnlHZF6cWOy5GkoEoNrCn4ejpq27Qbi ujNCulmP/JQ= =tjU8 -----END PGP SIGNATURE-----
At 4:42 pm -0400 on 6/9/97, Alan wrote:
In fact, the article points out that just about any monetary transaction can be declared money laundering. (And get upheld in court!)
Yeaaaah... Ain't fungibility a bitch? Well, folks, about 30 years we sowed a crop of inumeracy in our school system, and now it's time to reap the harvest. Cheers, Bob Hettinga ----------------- Robert Hettinga (rah@shipwright.com), Philodox e$, 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' The e$ Home Page: http://www.shipwright.com/
participants (3)
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Alan -
Robert Hettinga -
William H. Geiger III