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Title: Easy come, easy go. Post by: Tilt on November 03, 2010, 10:07:52 PM I imagine the winner was hoping to keep his winnings from being taxed, looks like they get it all now.
Casino winner's cash seized at border Robert Snell / The Detroit News A big winner at a Windsor casino turned out to be a big loser after lying to border officers about the cash. Officers seized $19,901 in cash Monday from two unidentified Birmingham men who attempted to enter the United States via the Detroit-Windsor Tunnel after a night of gambling at the Caesars Windsor casino. Advertisement When the men were stopped at the border at 11 p.m. Monday, they tried to dodge a rule requiring people to declare if they are carrying more than $10,000 in cash, which is used to verify the money's source and to block the flow of illegal cash. The car's driver had $9,400 while the passenger had $9,500, according to the U.S. Customs and Border Protection. The men told officers they had taken $4,000 in cash to the casino and were returning with their winnings. But the passenger became nervous as officers started counting his money. The man admitted he had lost money at the casino and the $9,500 belonged to the driver. The driver admitted winning $40,000 at the casino and said he had deposited $20,000 at the casino and split the balance with his buddy to avoid the $10,000 reporting requirement, according to the U.S. Customs and Border Protection. "It is not illegal to carry money into or out of the country," Port Director Roderick Blanchard said in a prepared statement. "It is required that you give an accurate declaration of the amount of money you are carrying. Anyone carrying or causing to be carried, in excess of $10,000 dollars must fill out the appropriate paper work when entering or leaving the country." Officers seized the cash, which is the penalty for trying to dodge the $10,000 reporting requirement. rsnell@detnews.com Title: Re: Easy come, easy go. Post by: jay on November 03, 2010, 10:46:35 PM The buddy threw his friend under the bus. I suspect he still has access to the other 20k at the Casino.
With the US dollar dropping like a stone leaving it in Canada in Canadian dollars is the smart thing to do. Title: Re: Easy come, easy go. Post by: cowboygames on November 04, 2010, 01:04:10 AM why can't you just get a check from the casino or a cashiers check from the bank and mail it to yourself? Like, say, 8 checks for $5000?
Title: Re: Easy come, easy go. Post by: PWRSTROKE on November 04, 2010, 01:12:00 AM :25- :25- :30- :30- :118- :56- :56- :148- :148- :68- :214- :55- :40- :40- :40- :107-. B----------- :200-
Title: Re: Easy come, easy go. Post by: jay on November 04, 2010, 04:59:52 AM There is no problem in transporting any amount of currency across the border.
You just need to declare it and fill in the form stating the source of the funds. This also gets forwarded to the Tax Man, so while the US person won his cash in Canada he legitamately needs to decalare his world wide income. In which case Uncle Sam has his hand out for aprox 50%. In this case he just got what he was owed. They are trying to stop international money laundering. Its easy enough to smuggle 1 kilo of coke/herroin across the border. Thats a package less than the size of a 5lb bag of sugar. Assuming this is pure, by the time it hits the street this is now an easy 50k. Thats 5000 x 100 dollar bills. Which is larger than the previously described bundle. None of the drug dealers are moving "just one bag" so they need to send litterly bushells of cash and they need to do it on a regular basis. So the doof that "claims" he won 40k at the casino will get away with it once but doing this weekly is going to raise a lot of suspicions. When I sold my house in PA I carried a 300K+ cheque across the border and declared it. I got a call from the bank manager shortly after I deposited it in an ATM. When I finally got my severence they simply mailed me the cheques - each well over 10k. There was no declaration but it is the senders responsibility in this case not mine. |