My current boss believes there exists a fedral law making it illegal for one to carry more than $2000 in cash in his/her person. I am skeptical of his claim to say the least especially since some of the what passes by his lips is pure bovine feces; he has become one of those conspiracy theorist types in the past year and a half or so.
Is he correct? If so, when was such a law enacted?
I find it difficult to do an internet search on this matter, so I turn to my fellow cohorts in Doperland. Any help is appreciated.
I heard about some such law being passed to have something to arrest drug dealers for, if they couldn’t be caught dealing. I don’t know if it’s true or not though. It wouldn’t surprise me, with our trend for making laws against things that allow someone to do something wrong, instead of the action itself.
Perhaps he’s thinking about laws relating to cash transactions over a certain size? These may have to be reported to a centralised “money laundering” authority in some jurisdictions.
It’s nonsense. You are permitted to carry more than $10,000 in cash through US Customs, as long as you report it; below that amount you don’t even have to report it. I have carried over $6,000 through US Customs.
Here (TX as well) they stop a lot of people on I-40 and confiscate their cash. Some have drugs as well, some do not. They are all charged with money laundering but the charges are dropped if the person can give a plausible explanation as to why they have so much cash.
Not sure of this cite, but it says carrying the cash isn’t illegal.
I’ve gone with a past boss when he took huge amounts of cash to bank after a big weekend of sales. No limit was ever a problem.
Personally, I bought a motorcycle for $9500 cash. (The guys eyes bugged out of his head and he probably stayed up all night waiting until he could get to the bank in the morning.)
My mom cashed her retirement check for $10,000 and had it all in cash and the bank gave it to her. So no.
Assuming that everyone that has a large amount of cash on their person is a drug dealer seems a bit sketchy to me; the governments that get away with it are treading on thin ice, IMO. Just wait until they confiscate someone’s cash who really needed it to do something like pay a hospital bill, which then incurred massive late fees. Lawsuit waiting to happen.
I have personally witnessed people at thoroughbred race tracks win large cash sums and receive a police escort away from the track. Certainly, the scenerio I describe here would not take place if it was in violation of federal law. I imagine this is common at casinos as well. However, I wanted to have more substantial evidence to support my side in this argument. So, once again, thank you.
One of my best childhood friends later turned executioner and suspected serial killer earned his ticket to life in Angola by following a big casino winner home and executing him for his cash winnings. I believe it was for something like $30,000. I think there are two lessons here. You can carry a lot of cash on you but ask for an escort if you flash it around at a seedy place.
“Suspect Christopher Timon, inmate #360424 at the Louisiana State Penitentiary in Angola, is serving a life sentence for the murder of a man that he followed out of a riverboat casino in Bossier City in order to rob him of his winnings and kill him”
It should be noted that in at least one case I’ve seen, simply transporting a large sum of cash was enough to have it confiscated successfully, and this stood up on appeal. In some jurisdictions, it seems that having enough money in cash in one place is enough evidence that you are about to engage in drug related activity.
I think it’s interesting that they sue the property, and not the owner of the property. This means that to get the money back, it’s the responsibility of the claimant (ie, the former owner of the confiscated money) to prove that the government is wrong. Very tricky.
Note that this is a civil proceeding and not criminal, so it doesn’t relate directly to the OP. But it does mean that carrying too much money can result in the government successfully suing that money and having it taken from you, even if there is not a specific law prohibiting it. Maybe this is what your boss is thinking of?
Sorry about that link, by the way, I was looking for a news story and found that “article” but the site seems very politically motivated… anyways, here’s the actual PDF of the decision.
As for those cases, wasn’t there a law passed in the 90’s stating that property confiscated for a crime that wasn’t proven had to be returned within a certain period of time? I know I read somewhere that that was becoming a problem so Congress passed a law to fix it. I wish I could remember where I read that.
I’ve carried a few million (with armed escort, for work). It’s actually a question of international travel. Try to bring more than $10,000 out of the country without declaring it and see how friendly the ICE folks are (if they catch you).
) I had earlier with the boss.