Can stocks/bonds be seized by law enforcement?

[la resistance]

something I've always been curious about... do they have the power to do it and the resources to find out if you have them and then seize them? I guess it'd be linked to your bank account, so they could find it

 

[FrankRizzo]

They can find anything with your name attached. They can take anything they want to if it makes them think they are doing a good job.

 

[Habibi]

if your making your money illegally dont put it anywhere linked to your SSN, all you can do is travel and stash your cash

gotta have proof of income to buy houses and cars and things

 

[Godless]

What if you grow for yourself only and every penny you make is legit? Have they raped our rights so much that they can take everything you own even if you can prove that the money came from a legit source?

 

[SomeGuy]

What if you grow for yourself only and every penny you make is legit? Have they raped our rights so much that they can take everything you own even if you can prove that the money came from a legit source?

Supposedly no, but the burden of proof is on you to prove them wrong in a civil suit they file on you. Meaning, you have to dig up all the records of income and expenditures and a judge can still find in their favor if its not to his satisfaction.

 

[Ajunta Pall]

if your making your money illegally dont put it anywhere linked to your SSN, all you can do is travel and stash your cash

gotta have proof of income to buy houses and cars and things[/QUOTE

Bullshit! Form your own LLC or incorporate. After that do i really have to explain the rest? One more thing, classify yourself as a retailer or set up shop in a flea market. With both you won't have keep any customer records, and the latter is usually a cash based business. Meaning that it can help explain why you have large sums of money.

Having your own business is your "proof of income".

 

[irconfused]

if your making your money illegally dont put it anywhere linked to your SSN, all you can do is travel and stash your cash

gotta have proof of income to buy houses and cars and things[/QUOTE

Bullshit! Form your own LLC or incorporate. After that do i really have to explain the rest? One more thing, classify yourself as a retailer or set up shop in a flea market. With both you won't have keep any customer records, and the latter is usually a cash based business. Meaning that it can help explain why you have large sums of money.

Having your own business is your "proof of income".

Yes you do! Remember judges are not on your side, and they are not stupid, they listen to criminals making up bs excuses for a living. Unless you have gone through great lengths to make up complete documentation of the supposed income they will rule against you in a second. Quite frankly nobody is stupid enough to believe someone would be selling enough junk at a flea market to buy themselves a house, and just happen to be growing and giving away enormous amounts of marijuana for the hell of it...

The limited liability offered by a llc or corporation means nothing with asset forfeiture laws. If they want to they will take anything and everything that has your name anywhere near it, then leave it up to you to prove you obtained every penny worth of it legally. If you have ever been to an auction that sells forfeited goods you will know its a gigantic money maker, they take everything of perceived value you own, cars, houses, jewelry, electronics, anything that seems worth the trouble to haul away. Authorities make HUGE sums from forfeiture so they don't give a damn even if they know you paid for it legally.

Also starting a company to filter that money is better known as money laundering, which they will undoubtibly add to the charges, if they suspect you are doing so, let alone if you conviently sell things with no record and have a very high profit.

Lastly if you do somehow convince them you made x amount of income legally they will look into your tax records and unless you have collected sales tax and paid the income tax necessary you will be guilty of tax evasion.



If you are growing illegally for profit either stay way the fuck under the radar or make certain you have every single one of your bases covered (aka hire yourself a personal accountant/lawyer to help)

 

[Ajunta Pall]

Hey IR, did I say that selling stuff from flea markets can cover you if you have 200 thousand in cash? Fuck No. If you got under ten grand in cash, then yes you can get away with it. If you get caught with ten grand and a load of weed then obviously not.

The hell LLC or incorporation don't protect your companies! How many CEOs out there have been found guilty of commiting white collar crimes that had their companies siezed from them? The cops would have to prove that everyone in the company was corrupt before they did so!

Are you so ignorant as to not know how to pay sales tax? What the hell is the point of laundering your money if you don't have everything planned out? How do you prove income of the legal merchandise you sell? Are you really that clueless? You think Wal-Mart has customer records of every sale they make?

All you have to do is report your daily sales in your cash register. Then you add all the sales tax you've collected in a quarter, then send that amount into your government. When you pay your income tax you go off your own sales records. How hard is for you to comprehnd such things?

You want to buy a house? That's easy once you have your proof of income from your business apply for a loan like everyone else. Who gonna go through all the trouble of cleaning their money to do totally stupid things as you suggest.

Besides if you got huge grow going and are facing a lot of time for that, your money laundering charges could either be dropped or ran concurrent with your drug manufacturing sentence. And if you know so much about forfiture laws then feel free to enlighten us.

 

[yamaha_1fan]

Hey IR, did I say that selling stuff from flea markets can cover you if you have 200 thousand in cash? Fuck No. If you got under ten grand in cash, then yes you can get away with it. If you get caught with ten grand and a load of weed then obviously not.

The hell LLC or incorporation don't protect your companies! How many CEOs out there have been found guilty of commiting white collar crimes that had their companies siezed from them? The cops would have to prove that everyone in the company was corrupt before they did so!

Are you so ignorant as to not know how to pay sales tax? What the hell is the point of laundering your money if you don't have everything planned out? How do you prove income of the legal merchandise you sell? Are you really that clueless? You think Wal-Mart has customer records of every sale they make?

All you have to do is report your daily sales in your cash register. Then you add all the sales tax you've collected in a quarter, then send that amount into your government. When you pay your income tax you go off your own sales records. How hard is for you to comprehnd such things?

You want to buy a house? That's easy once you have your proof of income from your business apply for a loan like everyone else. Who gonna go through all the trouble of cleaning their money to do totally stupid things as you suggest.

Besides if you got huge grow going and are facing a lot of time for that, your money laundering charges could either be dropped or ran concurrent with your drug manufacturing sentence. And if you know so much about forfiture laws then feel free to enlighten us.

A CEO is a chief executive officer, not the owner. They may have shares in the company but they dont OWN it.

When you own a corporation, you own shares in it. Yes joes lawn care has shares if its a corporation. Those shares are OWNED by the individual and can be seized by anyone looking for assets of an individual. An LLC is different and offers more protection in that regards.

And no, you cant open a fake business and make up fake records. They are going to want to know customers. Oh you sold out of the flea market and just wrote out receipts to cash customers? Lets talk to the flea market. Oh wow they never gave you space. Oh you owned a pizza place? Where, lets talk to the landlord. Oh you owned a lawn maint business? Lets talk to your customers.

Now if you want to open an actual business, and "boost" cash sales that is completely different

Ajunta Pall, you ever been under the microscope? I have and I can tell you its hard to hide shit and the judges are NOT stupid

 

[irconfused]

I myself have not been stupid enough to attempt something like this, however a close family friend of mine did end up on the shit end of the forfeiture stick and lost EVERYTHING he had to his name, house, cars, savings, stocks, and even worse his freedom.

He was in his early 30s, got laid off during the dot com bust and couldn't find work in silicon valley. He had the choice of losing his house, taking his kids out of school etc, or finding another way to make money. For a few years he pulled it off, absolutely nobody including his wife knew about it. He ended up doing it long term and got busted bc he was growing in office space and other people in the building smelled it.

He ended up getting a half dozen or so charges against him a few of which stuck. This was a few years ago and he is still in jail, his wife divorced him and moved back east with their kids. This guy was making well over 200k a year before he started growing so did try and prove in court with legitimate invoices however due to an asshole judge and that the company he previously worked for no longer existing they believed he was using that to launder money as well so they just took everything he and his wife owned.

Moral of the story if you grow lots of weed and they take your shit most likely you will never see it again. If you don't believe me whatever, I just don't want other people getting tossed in jail because you think its so simple.


Also I forget that in other areas of the country anything but super poor people go to flea markets and you can buy a house for less than a million dollars unlike good ol California...

 

[Habibi]

look bottom line , any ILLEGALLY obtained money should be kept in cash and not tied to your social security number in any way. i dont grow for sales purposes so i dont have this problem but not paying taxes is not paying taxes and its the same for a pot peddler or an enron executive, the irs want their cut bottom line. only way to keep yourself out of trouble is make like you never had the money, dont make purchases for over 10k in cash and dont deposit large amounts of cash unless you have legitimate proof of where it came from unless you want to be audited.

once you become audited they want to see RECEIPTS for everything so good luck lying to them, they do this shit every day im sure they have a leg up on you, whoever you may be.

 

[Ajunta Pall]

Yamaha my point with the incorporation was just that. The guys that run the business let's say like that guy in charge of Tyco toys who got busted doing something funny the company did not go under. Of course when you inc there are share holders, I'm not that ignorant. the whole point is that once you do it is that you can protect your assests to a certain degree.

As to just making something up on paper alone and try to pass it off as a legit business? That's completely lame and you know it. If you are going to pull this off correctly you will HAVE TO HAVE A STORE FRONT. I did put in other details like cash register meaning that you actually buy one to put in your store. How else are you supposed to prove your income. I did not put this in because I thought that this was the given. If you wish to clean your money up SUCCESSFULLY, then everything must be real and legit, except your money. Otherwise you are going to get caught rather easily. If you claim to be in the flea market game, then yes you must rent a stall. That way YOU can prove you were there with the reciept you would get from the flea market. To do otherwise is to waste your time.

And yes I have been under the microscope before, that is why I stress that you must be able to prove why you are able to buy this or that.

To IR your family friend was an idiot to ever grow in an office space. He was only asking to be busted by doing that. You don't have to have a huge grow to earn good money. Growing premium beans will fetch you more cash than the regular commercial garbage. The more you make the more they take, obviously. I'm not out here encouraging everyone to do a huge grow and launder their money willy nilly. In fact large grows are not my area of expertise. Small to medium grows can net you enough money to live comfortably, and once you legitamize a portion of what you make you can start to enjoy your rewards without too much worry.
Hell, a moderate sized grow done a couple of counties away from where you live and run your business may not even draw attention to your finances. Just make that county your offical residence. Sure they'll try to sieze the porperty you grow at, but losing that shouldn't be that much of a concern.