Black money safe haven

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Postby Guest » Sun Sep 11, 2005 3:59 pm

jpinks wrote:
stantheman wrote:Nothing to do with the current discussion but what do you sail?
Well - it appears that everyone thinks I do sale(s) :wink: But I prefer sailing -yes - why - want to buy a boat? :lol: :lol: :lol:
Not at the moment, I got rid of a nauticat a while back, I'm having a rest at the moment, I was just curious.

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jpinks
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Postby jpinks » Sun Sep 11, 2005 10:32 pm

I PM'd you, Stan....
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jazper
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Postby jazper » Tue Sep 13, 2005 9:12 am

Back to the original question.
Can you not open multiple bank accounts with a couple of thousand in each, and then gradually move it all to one location?

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Postby Guest » Tue Sep 13, 2005 10:13 am

jazper wrote:Back to the original question.
Can you not open multiple bank accounts with a couple of thousand in each, and then gradually move it all to one location?
Nope!

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Postby jpinks » Tue Sep 13, 2005 9:36 pm

jazper wrote:Back to the original question.
Can you not open multiple bank accounts with a couple of thousand in each, and then gradually move it all to one location?
Only if you can find enough peope willing to front the accounts for you. They would all have to be in different names.
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spanish_lad
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Postby spanish_lad » Thu Sep 15, 2005 6:38 pm

stantheman wrote: and no one I know of has ever made that much profit, sorry but your story doesn't hold water!
we bought for 45,000 € and sold for 176,000€ ... your point is?;)
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silver
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Postby silver » Fri Sep 16, 2005 7:53 am

spanish_lad
we bought for 45,000 € and sold for 176,000€ ... your point is?Wink
You are not the only one who has made a big profit...but maybe one of the few to admit it.
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Postby jpinks » Fri Sep 16, 2005 9:29 am

I bought and sold a property and made a similarly large percentage profit in 12 months, and I know of several others who have done equally well - mostly Spaniards selling to Brits.
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Postby fullmonty » Fri Sep 16, 2005 9:50 am

Back to the original question.
It is my understanding that the bank is interested in large cash deposits if they do not know their origin.

Since everyone else is in on the "part payment in cash" scam (and I understand the system is similar in France) surely the bank knows where it came from and would be complicit in accepting it - just as the Notario coughs and leaves the room for a smoke.

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Postby katy » Fri Sep 16, 2005 10:56 am

Thats why some of the notaries in Marbella were arrested in the "white whale" case. They are supposed to report suspected dodgy transactions over 12000 euros and they didn't so maybe they will become a little stricter.

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silver
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Postby silver » Fri Sep 16, 2005 12:55 pm

they will become a little stricter.
According to 2004 (413 detentions) report seems like they already have..2005 so far 593 detentions.
12000 euros
A little more it seems..."white whale"53 various nationalities 36.000.000€ cash and 250 properties...."sugar" 13 Brits 150.000€ cash, arms, cars, jewels...nothing when you consider "Nile" with 300 Nigerian 100.000.000€ "bee" the 28 Russians and 800 bank accounts blocked..
UK national tend to specialize in Costa del sol...whitening of money, fraud, car, cocaine and hash traffic.
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Postby katy » Fri Sep 16, 2005 1:33 pm

Read this week that Spain buys more cocaine than any other country in the world!

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silver
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Postby silver » Fri Sep 16, 2005 2:09 pm

Yeh..but how long does it stay here ???? This is Europes starting point.
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Postby jpinks » Fri Sep 16, 2005 3:47 pm

fullmonty wrote:It is my understanding that the bank is interested in large cash deposits if they do not know their origin.

Since everyone else is in on the "part payment in cash" scam (and I understand the system is similar in France) surely the bank knows where it came from and would be complicit in accepting it - just as the Notario coughs and leaves the room for a smoke.
Anyone who is stupid enough to allow the notario to actually see what you're doing deserves what they get. The "normal" way of doing the cash part is for the buyer and seller to meet just before the notario appointment, count the money and seal it in an envelope (both signatures under a strip of sellotape is effective). Then at the appropriate moment in the notarios office, the envelope is handed over with some comment about the fact that it contains the other information the buyer was looking for. The notario should never actually see the cash or what is going on - that would be rude of the buyer and seller because it puts the notario in an awkward position legally.
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Postby fullmonty » Sat Sep 17, 2005 9:59 am

Of course the notarios should not see any cash change hands. But at the same time notarios must be aware of what is going on in the spare room often provided for the purpose anyway.

And of course the Ayuntamiento has no idea that houses sell for more than they are declared for despite the profileration of estate agent´s windows where this is clearly advertised.

Has anyone experience of a bank manager - who after all gives out the "black money" - being complicit in accepting it too?

And since virtually "everyone" does do it, then it seems to me there just has to be a way around this.

Dave

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Postby jpinks » Sat Sep 17, 2005 10:43 am

fullmonty wrote:Of course the notarios should not see any cash change hands. But at the same time notarios must be aware of what is going on in the spare room often provided for the purpose anyway.
Being aware is one thing - but they can deny actual knowledge of it if you are suitably prepared and do it other than in front of him/her.
fullmonty wrote: Has anyone experience of a bank manager - who after all gives out the "black money" - being complicit in accepting it too?
And since virtually "everyone" does do it, then it seems to me there just has to be a way around this.
If the bank is handing out a large amount of cash - there is nothing to tell them what it's for, so they can deny any knowledge of what's going on. As for accepting it - well that is where this topic started, isn't it? The answer is that the bank manager will probably say nothing, unless he is legally obliged to report it (I'm not sure if he is in Spain), but the tax authorities will almost certainly catch on to such a large transaction.
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Postby Guest » Mon Sep 19, 2005 3:40 pm

spanish_lad wrote:
stantheman wrote: and no one I know of has ever made that much profit, sorry but your story doesn't hold water!
we bought for 45,000 € and sold for 176,000€ ... your point is?;)
My point is, as I have made clear before that it IS POSSIBLE to make a large profit, but it is far from usual, check out the number of homes in Andalucia currently for sale, nobody is making a killing.
I would be interested to know when you bought and when you sold and how much work and capital you invested in order to make this vast profit??

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Postby jpinks » Mon Sep 19, 2005 6:21 pm

stantheman wrote:I would be interested to know when you bought and when you sold and how much work and capital you invested in order to make this vast profit??
You're beginnimg to sound like a tax inspector!!
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Postby Guest » Tue Sep 20, 2005 4:25 pm

jpinks wrote:
stantheman wrote:I would be interested to know when you bought and when you sold and how much work and capital you invested in order to make this vast profit??
You're beginnimg to sound like a tax inspector!!
Perish the thought j!


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