I have multiple stealth EMI and Paypal accounts. I want to cash some of the money out each month and pay the income taxes, creating a clean income for myself. My idea is to create a simple website with Stripe selling coded scripts & tools. I plan on sending money from Paypals to stealth EMI and creating virtual debit cards with them, which I can use to make payments on my Stripe website. Would this cause any problems in the eyes of taxman? I am not planning to create big income, up to 2K per month only. Easiest would be to just send all the money from stealths to my own bank accounts but I am afraid they might start asking for source of funds etc. I live in a small eastern european country.
Cashing out stealth Paypals
- Thread starter xbox9gagswag
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Stealth accounts is just a way for money launderers to sound cool. You're laundering money, plain and simple. Probably with a touch of criminal fraud. Every layer you add is
Luckily, the tax man doesn't care about money laundering. They'll happily accept tax payments for all your criminal activities.
Where you might run into problem is if someone other than the tax man starts asking questions.
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This is the probably the answer to your question.
Luckily, the tax man doesn't care about money laundering. They'll happily accept tax payments for all your criminal activities.
Where you might run into problem is if someone other than the tax man starts asking questions.
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This is the probably the answer to your question.
I just dropship products with tiktok ads but i change paypal accounts once they reach too high amount of balance. Now it seems only reasonable way to cash out is buying crypto
Are those PayPal accounts in your own name or in the name of companies that you control? If not, I don't see how it wouldn't be money laundering.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
Isn't money laundering by definition linked to something illegal such as drugs or terrorism financing (whatever that means, anyway)?
This is probably something else.
Laundering is the essence of trying to hide the source of funds to cleanse them, which is what he describes above.
And as he's using Paypal, that brings in 'wire fraud' (20yr term per count).
To advise him brings in 'conspiracy'. which is in itself a low bar to prove for the JD.
Conspiracy for wire fraud counts.
Conspiracy for money laundering.
etc.
And as he's using Paypal, that brings in 'wire fraud' (20yr term per count).
To advise him brings in 'conspiracy'. which is in itself a low bar to prove for the JD.
Conspiracy for wire fraud counts.
Conspiracy for money laundering.
etc.
For the sake sake of keeping this forum legal and world safe I will delete my stealth accounts immediately and refund money back to customers. Otherwise it sounds like I am going to get a loooong sentence
Jurisdictions that have implemented FATF-GAFI guidelines (which would be pretty much all jurisdictions) will have laws whereby financially benefiting from criminal activities ends up being money laundering. In some cases, you can be found guilty of money laundering even without the predicate crime being proven.
A "stealth" account is an account opened in the name of a synthetic or stolen identity. The funds on that account belong to no one, the originator, or the stolen identity ”” it's a legal quagmire. But one thing is for certain: they do not legally belong to the person operating/controlling the account. As such, the moment you operate such an account, you are engaged in some form of wire fraud, bank fraud, or whatever it's called under applicable law.
Found guilty of that or not, OP is now on the line for money laundering charges as soon as the OP financial benefits from the crimes. This can be simply withdrawing the money, or more convoluted such as using the money to buy good or services for OP (house, car, crypto, shares, shiny new iPhone, insurances, starting new businesses).
Concealment can also be a predicate crime in money laundering. Depending on how the stealth accounts are set up and used, that could be added to the charges as well.
I genuinely don't get why people mess around and play with the absolute hell fire that is modern money laundering legislation. I can only assume it's due to ignorance of the power and scope of those laws.
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This is the probably the answer to your question.
okay we have a police man here 😀
Everyone is using stealth Paypal accounts for fraud and other underground stuff. They came handy to such people.