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Article Publishing
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~ legit money movie |
A successful drug dealer needs to find a way to turn his illegitimate, illegal money into fully legitimate bank deposits.
He comes up with the perfect scheme. He searches for old homes in need of repair of low value, but in fairly good locations. He finds houses in need of repair next to homes that are selling at a much higher value. He uses his cash from his briefcases to pay contractors to add garages to the houses, completely renovate the kitchen cupboards, floors, add vinyl siding, and add extra square footage to the houses by adding fully legal and inspected additions. All of these renovations, make overs, and repairs increase the value of the home significantly. All is paid with cash: contractors are paid hourly, materials are paid with cash at stores. Any purchase such as a vinyl siding job or garage that would cost over $10,000 is done in sections to avoid triggering over $10,000 transaction warnings.
Even if he spends $100,000 to renovate the home, and only clears $50,000 when he sells it, it is technically a loss, but not at all for him. Turning $100,000 illegal drug money into $50,000 legitimate money when the real estate proceeds enter his bank account, means he has just made 50K legit money that he can now use like a regular person, without the paranoia of living out of briefcases of cash.
When one house is finished and sold, he finds another. If there are no houses for sale that are in serious need of renovation and repair, he finds a house on a street that is not listed for sale, that looks suspiciously in need of renovation and repair, and offers the owner of the house a deal he can't refuse. Many owners decline to sell, but there is always someone willing to sell a home.
With legitimate money, he doesn't have to live on small cash purchases - he can now actually buy items with large sums of money, such as a $45,000 car that would not be purchasable using a briefcase.
The homes he buys needs serious work, so he contributes to some of the sweat labor, appliance purchases, renovations he enjoys; however most of the work is done by contractors to save him time and move the deal fast. One contractor can be working on the garage outside, while another is working on adding an addition, and another is upgrading the plumbing, and another is redoing the floors to tile or hardwood. This way tens of thousands of dollars is being spent, however all contractors are being paid separately in small amounts.
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