Comment: Currency Violation

(See in situ)

In reply to comment: What a travesty! (see in situ)

Currency Violation

The only thing I can see that might be a currency violation is the fact the person in the video was from India and the officer assumed he brought the money in without declaring it. The Indian involved had to produce documentation according to the video and I have to assume that is to prove the money was legitimately brought into the U.S.

The only other currency violation I know of is depositing funds under the $10,000 limit on consecutive days in an attempt to hide the transaction from the IRS. The bank is well aware of this and Anti-Money Laundering laws would come into play. Also, if you tell the banker you want to "keep this under the IRS limit," or ask, "how much can I deposit to keep me under the IRS limit," the banker is required to report you to the IRS for asking the question.

Like this guy who lost his money, and is fined up to $250,000 and a potential of 15 years in prison. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aiJee...

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!