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If you use the proceeds of crime to buy a house then can't that house be seized (jurisdictions probably have different rules, but..)? The house is then auction
by jsmeaton 5y ago
If you use the proceeds of crime to buy a house then can't that house be seized (jurisdictions probably have different rules, but..)?
The house is then auctioned off. It's not valued at the time of arrest and any additional value returned to the person arrested.
I don't understand why it could, or should, be any different for electronic stores of value (stock, options, crypto).
- Blikkentrekker 5y agoSimply because the legal paperwork listed the value in Swedish crowns rather than in bitcoins. As I understand this article, the same would have happened if the legal paperwork listed the value of the house in crowns, and then the housing market rose and the house tripled in value. The only unusual thing with Bitcoins, is that the value thereof has risen to quite extreme proportions.
- jsmeaton 5y agoOh, I understand why it's happened in this particular case. It's a loophole they'll be closing for sure. My comments were directed at the parent: > what proceeds should be stripped if you get cash in exchange for drugs and use that cash to buy GME calls which skyrocket? > but the actual proceeds at the time of the crime have a specific value The specific value at the time is, in nearly every other situation, irrelevant. The mistake was putting a claim to a monetary value of *asset* rather than the *asset* itself.