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Boosie Locked Up For Possession

If that cuz belongs to Allen and he doesnt have a permit, smh. I'm tired of cops reporting "they had a bag of cash" like having money is illegal.
 
Doesn't really sound like a big deal unless they have evidence they were committing a crime

He had some weed and a gun was under the other guy who was with him's seat

but I guess his man didn't say shit so they both went in.
 
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The problem might be if Boosie is a felon, which, according to the screen shot I posted, would make him ineligible to carry.
 
Cain said:
If I'm not mistaken having more than 5g on your person is a misdemeanor especially without a cashier's receipt.

Not 100% sure though
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Lou Cypher said:
I think its 10g. I know to pull 10g out of the bank you have to go through all these different processes. Shits stupid. If its YOUR money you should be allowed to pull out a million bucks if you wanted to.
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Technically it's not illegal to carry large amounts of money in the US. The problem is that if you get stopped by the cops with it you have to prove you got it legally, which is stupid and has caused people conducting legit business (like buying a car) to lose money when they don't have receipts for the money they're carrying.

Pulling more than $10K out of a bank triggers federal reporting to the Treasury. Paying for anything with more than $10K in cash triggers a reporting requirement for the merchant as well. IIRC the latter happened in the 80's 'cause drug dealers were buying cars, homes, and other high dollar shit with straight cash and the government saw that as a way to clamp down on it.
 
I know a thing or two about day trading. Basically you buy 5,000 shares of a penny stock (say, a stock that's selling @ $0.20 per share) and you sell it when it goes up one or two pennies. That's 5,000 pennies, or $50. Doesn't seem like much but if you sit in front of your computer all day it adds up.

But the thing about day trading is that you can't buy more than $10,000 of a penny stock, or make a profit that exceeds $10,000. So if you buy $11,000 of a penny stock the IRS will take all of your money over the computer. The money will just disappear from your account. Or even if you buy $9,500 of a penny stock and you gross $10,001 the IRS will take all of it.

The secret to trading penny stocks is to keep everything under $10,000, including the profit.
 
The way crooked cops would run it is that if you can't proof where the money comes from they'll try to claim it's dirty money and try to take it. That also goes for other items of property. It's called forfeiture. It's not that you can't carry it, but there's a risk of not getting your shit back. Back in the day cats would try to toss they rolls if they got a running chance.

Word has it forfeitures is also where the stuff at state auctions came from.
If it's something they could use, they'd just take it for themselves. Boats, houses, drugs, cash, and etc.

And yes, withdrawing a certain amount does mean the bank has to inform the authorities. In Louisiana I believe it's 5k. Namely, the IRS is who they call. If it's a serious suspicion they'll alert the police. This also plays into why wealthier criminals may only use certain banks that'll "cook the books" with transactions.
 
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