They can. It just gets reported to FinCEN, which might attract unwanted attention. The same applies to buying a $200k lambo with cash, which has to be reported to the IRS[1], on top of being registered with the state DMV.
Some people buy used hot rods on Facebook Marketplace for around $100k, then trade them in to a dealership. They claim they only paid $5k for the car and their labor increased the value to $100k, then use that trade-in value to get the car they actually want.
I worked with a client that sold stuff that was legal, but directed a lot of ad traffic to very questionable stuff and made a crazy amount of money from it.
Because of this there was always some risk of the government locking up bank accounts, so physical assets were purchased and spread around to avoid seizure of all finances which can prevent a person from fighting a legal battle.
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criminals can’t deposit their money into a bank, but they can buy a $200,000 Lambo.
They can. It just gets reported to FinCEN, which might attract unwanted attention. The same applies to buying a $200k lambo with cash, which has to be reported to the IRS[1], on top of being registered with the state DMV.
[1] https://www.irs.gov/businesses/small-businesses-self-employe...
Not that I know about these things...
Some people buy used hot rods on Facebook Marketplace for around $100k, then trade them in to a dealership. They claim they only paid $5k for the car and their labor increased the value to $100k, then use that trade-in value to get the car they actually want.
They just set up financing. You can definitely buy cars with drug money.
I worked with a client that sold stuff that was legal, but directed a lot of ad traffic to very questionable stuff and made a crazy amount of money from it.
Because of this there was always some risk of the government locking up bank accounts, so physical assets were purchased and spread around to avoid seizure of all finances which can prevent a person from fighting a legal battle.