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Thread: Fed seized $181,500 in cash at airport

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by Atomic Kid View Post
    The lawsuit claims that paying cash for big rigs is not an uncommon practice in the industry. Whether that's true or not I have no way of knowing.
    As far as I know, it's pretty uncommon, most of your majors, Swift, Knight, etc, obviously won't do that, most of your mom and pops, don't have the cash to do it. It's possible, but highly unlikely.

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by sjmay View Post
    As far as I know, it's pretty uncommon, most of your majors, Swift, Knight, etc, obviously won't do that, most of your mom and pops, don't have the cash to do it. It's possible, but highly unlikely.
    It's also possible that the purchasers simply wanted the deal to go through "instantly" and were unaware of the fact that almost every bank will "expedite" the clearance of a cheque (essentially turning the cheque into a "certified cheque") and will also "expedite" the transfer of funds to cover the cheque. Of course the banks are going to be charging a fee to do either of those, but doing both can result in the seller receiving the full amount of the cheque into their bank account faster than the purchaser can get the truck off the seller's lot.

    I suppose that the whole thing could be resolved if the intending purchaser simply went to the intended vendor's lot, signed the purchase and transfer documents (subject to the Feds releasing the seized money), and then demanded that the Feds release the money to the seller in order to complete the purchase that they said they had intended to make.

    [ASIDE - What the heck, the loss due to "depreciation" is bound to be less than 100% if the purported purchasers just turn around and sell the trucks that they just bought - right?]
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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by Hatuey View Post
    If you're transporting over a buck 50 in cash, and you're not willing to pay the transfer fees at a bank, you're more than likely up to no good.




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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by Atomic Kid View Post
    The lawsuit claims that paying cash for big rigs is not an uncommon practice in the industry. Whether that's true or not I have no way of knowing.
    I've heard it's common to make large purchases in cash for small business. It allows for some creative accounting, in that they can use off the books cash income for the purchase, and still record the expense. The out of state aspect probably avoids the state sales tax, which for Florida would be nearly $11,000.

    This is tax avoidance, but it's an IRS issue, not the type of criminal activity that would justify seizing cash.

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by Deuce View Post
    Today in "Law Enforcement is ****ed Up":
    The government can explicitly ignore that whole 'innocent until proven guilty' part when it comes to seizing property.
    They want that money for themselves. They get to keep it. It is theft by government.
    When the debate is lost, the loser resorts to slander.

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by swing_voter View Post
    I'm not 100% on board with the government seizing large sums of cash, but the story sounds fishy. In this day and age, why would you carry all that cash to buy trucks with? There are a lot of alternatives to cash, bank transfers are one, cashier's check are another.
    They were probabley buying at auction. Believe it or not cash is still prevalent at auction.
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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by swing_voter View Post
    I'm not 100% on board with the government seizing large sums of cash, but the story sounds fishy. In this day and age, why would you carry all that cash to buy trucks with? There are a lot of alternatives to cash, bank transfers are one, cashier's check are another.
    When did having cash make a person a criminal?

    A person can't hack cash. They can hack a bank account. The IRS can't seize every penny a person has - forcing the person to agree to anything the IRS demands if a person has cash.

    I paid cash for our first house and for the house we are now it - 6 figure cash. I've paid cash for every car, truck, motorcycle and boat I've ever purchased.

    ATMs break down. Cash doesn't. Credit card and bank purchases can refuse to pay because a computer detects a fraud alert. Cash always works. Cash can not be hacked out of a bank account. Cash can not be accidentally overdrawn. There are no late charges on cash. No monthly fee on cash. ID theft doesn't steal cash.

    There is NO basis - and certainly no legal basis - whatsoever for law enforcement to be able to presume you are a criminal because you have cash.
    How do you like being under government ordered house arrest for the crime of existing?

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    Re: Fed seized $181,500 in cash at airport

    It's already been divvied up between that shift's staff, spent on hookers and blow. I'm afraid the citizen-victims are out of luck.

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by PirateMk1 View Post
    They were probabley buying at auction. Believe it or not cash is still prevalent at auction.
    I always have a few thousand in cash for opportunistic buys. Cash is persuasive. Almost no one accepts a check for large purchases anymore. It is hard for a person who needs money NOW to turn down cash. I also sell cars, boats etc for cash. Anyone can challenge a credit card charge and often successfully steal by it. A check can bounce or a person can stop payment. Certified checks can be fake and even those can be contested.

    It used to be that American currency was to be considered absolutely safe. Now it isn't - it's not safe from the government. Such seizures equate to the US government refusing to honor money it issues. Because of this policy, your American money might be absolutely worthless to you.
    How do you like being under government ordered house arrest for the crime of existing?

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    Re: Fed seized $181,500 in cash at airport

    Quote Originally Posted by Atomic Kid View Post
    The lawsuit claims that paying cash for big rigs is not an uncommon practice in the industry. Whether that's true or not I have no way of knowing.
    Doesn't matter if it is, nor is there any reason anyone should be required to say why they have money regardless of the amount.
    How do you like being under government ordered house arrest for the crime of existing?

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