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zeetubes
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April 02, 2014, 03:20:51 PM |
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Fucking brilliant. If bitcoins are considered property, I wonder if a US bank will give me a mortgage to purchase some.
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hilariousandco
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April 02, 2014, 03:24:41 PM |
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Not really. You can launder money through potatoes if you wanted. That's not gonna stop them prosecuting you. |
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2dogs
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April 02, 2014, 03:42:10 PM |
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Agree, great defense argument!
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bryant.coleman
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April 02, 2014, 03:44:12 PM |
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Agree, great defense argument!
May be. But even using your property for the sale of drugs is a punishable offence in the US. |
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Rygon
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April 02, 2014, 03:45:34 PM |
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Not really. You can launder money through potatoes if you wanted. That's not gonna stop them prosecuting you. It could stop them from prosecuting you for money laundering. From the Cornell Law site: "Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money." That would be a tough argument to make, in a fair court at least, lol. There's certainly enough drug charges to send him to jail though, lol. Tax evasion could still be brought up also. |
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2dogs
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April 02, 2014, 04:07:24 PM |
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hilariousandco
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April 02, 2014, 04:19:24 PM |
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Not really. You can launder money through potatoes if you wanted. That's not gonna stop them prosecuting you. It could stop them from prosecuting you for money laundering. From the Cornell Law site: "Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money." That would be a tough argument to make, in a fair court at least, lol. There's certainly enough drug charges to send him to jail though, lol. Tax evasion could still be brought up also. Yes, but wasn't he laundering the Bitcoins for cash? I don't image he's been surviving all this time exclusively on Bitcoins. |
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Rygon
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April 02, 2014, 05:32:32 PM |
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Not really. You can launder money through potatoes if you wanted. That's not gonna stop them prosecuting you. It could stop them from prosecuting you for money laundering. From the Cornell Law site: "Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money." That would be a tough argument to make, in a fair court at least, lol. There's certainly enough drug charges to send him to jail though, lol. Tax evasion could still be brought up also. Yes, but wasn't he laundering the Bitcoins for cash? I don't image he's been surviving all this time exclusively on Bitcoins. From what I understand, for it to be money laundering, you must be laundering money. But, according to the IRS, bitcoin is not money, therefore if cannot be laundered. The only folks that could be clearly accused of money laundering in the Silk Road case would be currency exchanges if they knowingly traded fiat for bitcoins with folks who were buying or selling illegal drugs. |
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hilariousandco
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April 02, 2014, 05:47:05 PM |
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Not really. You can launder money through potatoes if you wanted. That's not gonna stop them prosecuting you. It could stop them from prosecuting you for money laundering. From the Cornell Law site: "Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money." That would be a tough argument to make, in a fair court at least, lol. There's certainly enough drug charges to send him to jail though, lol. Tax evasion could still be brought up also. Yes, but wasn't he laundering the Bitcoins for cash? I don't image he's been surviving all this time exclusively on Bitcoins. From what I understand, for it to be money laundering, you must be laundering money. But, according to the IRS, bitcoin is not money, therefore if cannot be laundered. The only folks that could be clearly accused of money laundering in the Silk Road case would be currency exchanges if they knowingly traded fiat for bitcoins with folks who were buying or selling illegal drugs. So you can launder money though diamonds and jewels and they can't touch you because it's not money? You still have to launder the coins for cash which I'm sure is what he was doing. There's bound to be laundering going on somewhere along the chain. |
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odolvlobo
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April 02, 2014, 05:59:51 PM
Last edit: April 02, 2014, 10:00:15 PM by odolvlobo |
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From what I understand, for it to be money laundering, you must be laundering money. But, according to the IRS, bitcoin is not money, therefore if cannot be laundered. The only folks that could be clearly accused of money laundering in the Silk Road case would be currency exchanges if they knowingly traded fiat for bitcoins with folks who were buying or selling illegal drugs.
I assume that there is a difference in the legal definitions of "money" and "currency", and IRS regulations apply to taxes and not necessarily to areas of the law. Anyway, your proposed defense was already shot down in the Trendon Shavers ponzi scheme trial. |
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Rygon
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April 02, 2014, 07:59:40 PM |
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From what I understand, for it to be money laundering, you must be laundering money. But, according to the IRS, bitcoin is not money, therefore if cannot be laundered. The only folks that could be clearly accused of money laundering in the Silk Road case would be currency exchanges if they knowingly traded fiat for bitcoins with folks who were buying or selling illegal drugs.
I'm assume that there is a difference in the legal definitions of "money" and "currency", and IRS regulations apply to taxes and not necessarily to areas of the law. Anyway, your proposed defense was already shot down in the Trendon Shavers ponzi scheme trial. That's true, the IRS has it's own definitions, regardless of the law. I was under the impression that Trendon Shavers was using that defense to avoid the charge of security fraud. I don't know if he was found guilty of money laundering or not. However, in his case, there was a lot of transactions between USD and bitcoin in order to hide what he was doing. |
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bryant.coleman
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April 03, 2014, 05:26:03 AM |
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So you can launder money though diamonds and jewels and they can't touch you because it's not money? You still have to launder the coins for cash which I'm sure is what he was doing. There's bound to be laundering going on somewhere along the chain.
Yes. It is safe to assume that the DPR converted at least some of his 180,000+ BTCs to fiat. |
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Onews1990
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April 03, 2014, 12:58:45 PM |
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Might be a smart concept but he wouldn't go away with it, as the drug trafficking and enabling that is a crime on it's own I guess.
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hilariousandco
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April 03, 2014, 01:33:06 PM |
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So you can launder money though diamonds and jewels and they can't touch you because it's not money? You still have to launder the coins for cash which I'm sure is what he was doing. There's bound to be laundering going on somewhere along the chain.
Yes. It is safe to assume that the DPR converted at least some of his 180,000+ BTCs to fiat. Yeah, plus even if he did manage to weasel out of this charge, he's basically admitting guilt to everything else. |
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