2 rare ford GT vehicles found.....

[Outbackjack]

Just heard on the radio that during a huge drug bust in Sydney that two "rare GT ford vehicles" were found in one of the houses along with truck loads of cash and drugs.

I asume that these cars will eventually be auctioned off as part of the proceeds of crime laws.

[XA Coupsta]

Yeh I too saw this article Outbackjack. Didnt get any details on what the actual car specs were - it just mentioned two rare Ford GTs as you said.

Hopefully maybe the owner who sold it to them has the first right to buy it back - that would seem fair.

I would imagine they are pristine examples. In these raids they uncovered 10 million in CASH on one property so money was no object.

[Outbackjack]

Originally Posted by XA Coupsta

Yeh I too saw this article Outbackjack. Didnt get any details on what the actual car specs were - it just mentioned two rare Ford GTs as you said.

Hopefully maybe the owner who sold it to them has the first right to buy it back - that would seem fair.

I would imagine they are pristine examples. In these raids they uncovered 10 million in CASH on one property so money was no object.

Given the kind of people that are involved, it is possible that they were stolen at some stage.

[XA Coupsta]

Originally Posted by Outbackjack

Given the kind of people that are involved, it is possible that they were stolen at some stage.

True. But given the crimes they were into - theft wouldnt be of interest to them.

I mean cmon - they had 10mill cash - they are making far better money out of being a home chemist than they would from stealing - even stealing a 2 or 3 hundred K GT.

My thoughts are they were laundering some money by buying the GT's.

[Polyal]

Yeah I reckon they would be stolen cars too, hope the original owners get them back.

But would they? I assume insurance would have paid them out by now?

[Poetic Justice]

money laundering :P

[rag top]

Here's the article:
http://www.police.nsw.gov.au/news/re...YUlEPTg4MDA%3D

[Polyal]

Damn thats a huge bust! Hope they get a while in jail and not just a slap on the wrist.

[Black F6]

I doubt they were money laundering, $10 million cash, Im guessing drug dealing on that stage, would be a full time job.

2 couple a hundred thousand dollar GT's, bit hard to explain without a job, and probably still collecting the dole

: :

[XA Coupsta]

Sorry this is OT - but how do you think they arent money laundering?

You said yourself they had 10 mill in cash - what are they going to do - waltz into a bank and deposit it?!

They need to convert that dirty money into something of legitimate value - hence the GT purchases.

Probably buying houses for cash might raise a few eyebrows!

[EA2BA]

The sale of an exotic car is going to attract attention, so I think using them to launder money is a bit out of the question.

[Black F6]

Why would you worry about buying GT's to money launder.

When you could walk into a casino drop $200 bucks on a table, walk around for a couple of hours, and then cash in $100,000 clean as a whistle, no tax nothing, how do you think the asians do it???

[XA Coupsta]

Sorry BFXRScott it dont work like that. Trust me - I worked in a casino.

Yes there are money laundering rackets in casinos but that is not how they operate.

Seeing as that is your knowledge on money laundering I'll give up on explaining the GT purchases and let this thread get back on topic.......

[Black F6]

Sorry for my ignorance, I didn't know you were an afficianado on the subject.

I shall now retreat and leave the conversation to the experts

[XA Coupsta]

Well just spend 2 seconds thinking about it.

You walk up to a table and cash in for $200 didnt you suggest? Ok so you have $200 in chips.

You walk up to cash out. Then what - you give them 100 grand in CASH to cash out with?!!!! :

Ummmm......wouldnt you need gaming chips to cash out with?!! Dont you only have $200 of them?!

:togo:

[Black F6]

You would buy the chips wouldnt you, but since you have all the answers no need explaining it to you :the_finge :the_finge

[DirtyHarry]

I thought you would just make make a number of visits to the casino over a period of time, buy $500 or $5,000 in chips here and there, cash them back in on either the same or a later visit, or get a friend to cash them in. Where would that go wrong?

[uranium_death]

Awesome find.

My initial response was theft.

Drug dealers roll with some really irresponsible people who are rather stinky so I wouldn't be surprised if it was a "special request."

But great news about that. Maybe somebody who deserves to drive a GT can have one now.

[XA Coupsta]

Mate what you are suggesting is so laughable.

So even if you buy that amount of chips at the table (umm yeh - like someone is going to do that. But aaaanyway).

a. The pit boss records that transaction for starters
b. When you go to the cashier to cash out - they know you cashed in at say 100k - your turnover (what you bet at the table) was $200 (this is recorded by the pit boss - and imagine how many eyes you have on you after you've just bought 100k of chips)
c. Therefore you havent 'won' anything. Sure they'll cash your money back in but that money is still as dirty as it was when you brought it in. In no way has that been processed (or 'laundered').

Money laundering rackets at casino's need winnings money for it to be deemed 'cleaned'.

So they can keep pumping money through the pokies for example (usually a whole 'bank' or row linked to the one jackpot) and every jackpot that goes off is now legitimate winnings - that they can ask for to be paid in a cheque (this is dependant on money won though) - or even if not in a cheque the transaction is recorded due to the win - hence they can deposit that money safely into the bank.

At no stage is there a record of the launderer spending 100k to get a 50k return (this is on pokies mind you).

Another one favoured is the buying of winnings cheques from legitimate gamblers - by money launderers. And without trying to be racist or invoke any negative comments around it - this is usually favoured by asian money launderers.

So person A wins 10 grand on a pokie. He is approached by person B who offers him 15 grand cash for his 10 grand cheque.

Person B still has to present to the cashier to claim this cheque - and will use broken language, or the fact that they may be similar looking, etc - to get access to the funds via this winnings cheque. That is where the people in surveillance have their work cut out in making sure the person at the pokie is the same person at the cashier cage.

Need any more help BFXRScott?

[XA Coupsta]

Originally Posted by DirtyHarry

I thought you would just make make a number of visits to the casino over a period of time, buy $500 or $5,000 in chips here and there, cash them back in on either the same or a later visit, or get a friend to cash them in. Where would that go wrong?

All you've done is swap money for chips, then chips for money. It didnt get 'processed' or cleaned anywhere.

You need to prove (to clean the funds) that the money was won.

[Black F6]

Very lenghty and indepth answer.

As I have not laundered money, and assumably you have not.

Then we both have no F**cking idea what to do.

So leave it at that, let the topic get back on track, and kick along with it.

[uranium_death]

Isn't this thread about 2 rare Ford GT vehicles found?

I don't think money laundering has much to do with it.

As said, end it. Nothing to prove.

[xe351]

anyone know more about the cars?

[[Tonko]]

when laundering money, what detergent do you use? and do you set it to delicates? being a dirty plastic and all....?

[normxb]

Just saw Ch 7 News & it showed The Cash , Firearms , Jet Ski's but NO GT's :

Was there anything on the other channels ?
Norm

[Gaz]

if they go to auction i can imagine some nice deals. for both parties.


but ask yourself, would you want to own a GT that was owned by a high ranked drug gang member?

[Falcon_Phill]

Damn that desert eagle was nice.

[GXL078]

Originally Posted by Gaz

if they go to auction i can imagine some nice deals. for both parties.


but ask yourself, would you want to own a GT that was owned by a high ranked drug gang member?

WHo knows what you might find stashed away inside.
Whats a RARE GT? a Cortina?

[elgt146]

I think even if they go to auction they are still going to go at what price they are worth.

No bargains here.

[R0BD0G]

Originally Posted by Gaz

if they go to auction i can imagine some nice deals. for both parties.


but ask yourself, would you want to own a GT that was owned by a high ranked drug gang member?

i wouldnt mind a couple of gts