A scalable way to launder money!!!

bungrider · Dec 17, 2002

Say you need to launder $10k

Move 100,000sh with a dime spread across an ECN.

This just popped into my head this AM; thought it'd be a fun thing to talk about here...

ElCubano · Dec 17, 2002

How exactly does that wash your money???

bungrider · Dec 17, 2002

say i want to buy 10k worth of coke from you, elcubano.

i need to get you 10k. you need to get me the coke.

you post an offer for XYZ at 10.50 for 100k shares, and i buy them from you.

you then post a bid for XYZ at 10.40 for 100k shares, and i sell them to you.

you make $10k on those two trades, and now owe me a bunch of coke.

ElCubano · Dec 17, 2002

Very interesting.......now the question is...how do we get the dirty money ( to sell/buy the 100k shares) in the account in order to do those transactions???

which in your example is over $1,000,000......

DT-waw · Dec 17, 2002

Quote from bungrider:

say i want to buy 10k worth of coke from you, elcubano.

i need to get you 10k. you need to get me the coke.

you post an offer for XYZ at 10.50 for 100k shares, and i buy them from you.

you then post a bid for XYZ at 10.40 for 100k shares, and i sell them to you.

you make $10k on those two trades, and now owe me a bunch of coke.

Brilliant!

maxpi · Dec 17, 2002

So... after we make a fortune trading we can go into drug dealing!!

Way Cool.

Max

aphexcoil · Dec 17, 2002

Quote from bungrider:

say i want to buy 10k worth of coke from you, elcubano.

i need to get you 10k. you need to get me the coke.

you post an offer for XYZ at 10.50 for 100k shares, and i buy them from you.

you then post a bid for XYZ at 10.40 for 100k shares, and i sell them to you.

you make $10k on those two trades, and now owe me a bunch of coke.

What if Gordon Gekko comes along and puts a bid up for 10.45?

Corso482 · Dec 17, 2002

Wasn't Hillary Clinton involved in some type of money laundering scam with futures a long time ago? I read about it somewhere, I'm being serious.

Corso482 · Dec 17, 2002

Quote from ElCubano:

Very interesting.......now the question is...how do we get the dirty money ( to sell/buy the 100k shares) in the account in order to do those transactions???

which in your example is over $1,000,000......

Use an offshore brokerage

http://dominica-taxhaven.com/trade.html.

About getting the cash into an account, couldn't you physically fly the stuff over in a chartered jet? Not cheap, but if you're dealing with large sums you gotta do what you gotta do.

ElCubano · Dec 17, 2002

Quote from Corso482:

Use an offshore brokerage

http://dominica-taxhaven.com/trade.html.

About getting the cash into an account, couldn't you physically fly the stuff over in a chartered jet? Not cheap, but if you're dealing with large sums you gotta do what you gotta do.

If you do that then there is no need to launder the 10k, you can just fly that with the rest of your money......it is also not as easy as it has been mentioned ( take aphie's example )...many people may hit your bid; making some of the money flow into the wrong hands........but this type of washing has been done with fake purchases of gold and big machinery for quite some time.....Money laundering Alert.. I forget which article though..