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What interest would a criminal organization have in a high cash revenue business? Could it be a way to launder money? Jimmy "No Nose" comes in with $40k cash e
by avidiax 3y ago
What interest would a criminal organization have in a high cash revenue business?
Could it be a way to launder money? Jimmy "No Nose" comes in with $40k cash every weekend and loses it gambling, and "nobody knows" where a guy like Jimmy gets that cash so regularly.
- seanhunter 3y agoGambling has been well-known for some time as a way to launder money. For example see this[1] official government report in the UK or this[2] which is US-specific but much less detailed. [1] https://www.gamblingcommission.gov.uk/print/The-money-laundering-and-terrorist-financing-risks-within-the-British-gambling-industry https://www.gamblingcommission.gov.uk/print/The-money-launde... [2] https://moneysmartathlete.com/betting-industry/money-laundering-and-sports-betting/ https://moneysmartathlete.com/betting-industry/money-launder...
- laratied 3y agoThe old skim was even better than that. Make $500k, report $300k and send $200k cash back to Chicago.