What would you do with £250,000 in cash if you found it?
Discussion
https://www.lancashire.police.uk/news/2023/august/...
I was reading through the thread on does anyone still use cash and I recalled this story that I saw earlier.
Obviously OCG's will launder that money and spread it about, pay people with it etc, but what would or could an ordinary person do if they came across that sort of cash?
Let's say we have a scenario where you happen across that bundle of money and you know it's ill gotten gains. You know it's not someone's life savings, you are doubtful the police can trace it in any way and you realise the OCG haven't seen you take it so they can't connect you to it.
What next?
The only thing I can think of is to use it gradually to pay for my shopping and fuel. Is it possible to do what they did in The Outlaws and go into a casino with say £20,000. You cash it in for chips, play a couple of games of whatever and then cash out but get the money back in a cheque?
Failing that, is it coke and hookers?
I was reading through the thread on does anyone still use cash and I recalled this story that I saw earlier.
Obviously OCG's will launder that money and spread it about, pay people with it etc, but what would or could an ordinary person do if they came across that sort of cash?
Let's say we have a scenario where you happen across that bundle of money and you know it's ill gotten gains. You know it's not someone's life savings, you are doubtful the police can trace it in any way and you realise the OCG haven't seen you take it so they can't connect you to it.
What next?
The only thing I can think of is to use it gradually to pay for my shopping and fuel. Is it possible to do what they did in The Outlaws and go into a casino with say £20,000. You cash it in for chips, play a couple of games of whatever and then cash out but get the money back in a cheque?
Failing that, is it coke and hookers?
Cars, Watches, Jewelry. Easy to turn £250k into a handful of those assets (maybe £10k-50k each?) without any eyebrows raised, a lot of dealers in those trades are still happy to work in cash.
Then sell the items (possibly losing a small %) back to dealers for digital transfers. Maybe over a few years for maximum discreteness but I doubt anyone would bother.
Then sell the items (possibly losing a small %) back to dealers for digital transfers. Maybe over a few years for maximum discreteness but I doubt anyone would bother.
ColdoRS said:
Cars, Watches, Jewelry. Easy to turn £250k into a handful of those assets (maybe £10k-50k each?) without any eyebrows raised, a lot of dealers in those trades are still happy to work in cash.
Then sell the items (possibly losing a small %) back to dealers for digital transfers. Maybe over a few years for maximum discreteness but I doubt anyone would bother.
Pretty much this, providing you're patient, discreet and HMRC don't get wind of your spending habits you could launder the money over several years.Then sell the items (possibly losing a small %) back to dealers for digital transfers. Maybe over a few years for maximum discreteness but I doubt anyone would bother.
If you have a pension then use the cash for day to day expenditure, shopping, fuel, some but not all car maintenance etc and put the cash saved into the pension with the added bonus of the government topping up the pension by 20%
Regarding buying gold and other precious metals I'd imagine you'd have to be careful due to the Hallmark bearing date information? Too much purchased after a certain date would get the alarm bells ringing...
A big concern is that sooner then later and probably sooner the currency denomination will go out of date and then bank notes can only be exchanged at your bank and paid into you bank account or after a slightly longer time directly at the Bank of England. Such exchanges require a form to completed explaining the provenance of the money.
Actual said:
A big concern is that sooner then later and probably sooner the currency denomination will go out of date and then bank notes can only be exchanged at your bank and paid into you bank account or after a slightly longer time directly at the Bank of England. Such exchanges require a form to completed explaining the provenance of the money.
I was wondering about that. Usually we get about 12 months notice (perhaps a little longer) when notes are going to be changed. If you still had nearly the full amount of cash, it's a lot to launder in a short amount of time. It also makes me wonder if we'll ever see a kidnap and ransom in the UK (like Michael Sams or Donald Neilson) ever again, with the move to a more cash less society? You wouldn't want to risk doing such a crime for less than what, £500,000 today and also the police will likely have records of the serial numbers (assuming they've become involved).
Pay for food, petrol, going out etc. with cash so I could transfer all my salary into savings once the mortgage had been paid.
Buy a few ounces of gold for cash each month and basically forget about it for the next ten years.
I could easily dispose of £250K over the next ten years before I retire and slowly cash in the gold each month.
Buy a few ounces of gold for cash each month and basically forget about it for the next ten years.
I could easily dispose of £250K over the next ten years before I retire and slowly cash in the gold each month.
This happened to a friend of a friend who found the money in their new house .. the thought process was probably pretty simple given the likely owner.
https://www.bbc.co.uk/news/world-europe-24280345
https://www.bbc.co.uk/news/world-europe-24280345
Downward said:
MitchT said:
Where would you get said Ferrari from? My understanding is that car dealers want to check where cash sums in excess of a few grand have come from.
Birmingham Gassing Station | The Lounge | Top of Page | What's New | My Stuff