3 ms·
While I agree that this seizure of money wasn't right, and shouldn't have happened, one does have to wonder about the guy... ...has he never heard of safe depo
by cr0sh 9y ago
While I agree that this seizure of money wasn't right, and shouldn't have happened, one does have to wonder about the guy...
...has he never heard of safe deposit boxes?
It sounds like he works strictly on cash. Usually, to get a safe deposit box, you have to have an account with the bank you are getting one at (and there might be other restrictions as well). If he didn't have a checking account and couldn't meet any other restrictions, then he couldn't get the box.
But once you had the box, you could put the money in it, and not really worry about it. I just don't know why he didn't do this. It certainly couldn't have been lack of funds. He had more than enough to open an account, and pay for one year on a box big enough to hold the rest of the money.
So if he didn't do this - why? One good reason I can think of might be - operating with cash only - not paying income taxes. Sadly, his efforts at getting his cash back will likely cause him more problems with the IRS down the road.
He really didn't think this whole thing through, and it ultimately caught up with him. Of course, the fact that he wasn't wearing his seatbelt, against a law which makes it a crime of some manner in just about every state (save one), and it's also a federal law - all says something about his being ill prepared.
- jstarfish 9y agoFWIW, cash is not FDIC insured while in a safe deposit box. And it doesn't solve his "problem" of how to safely move it around without getting it seized.