Limbaugh bank withdrawals under fire

New York Daily News ^ | 11/19/03 | DEREK ROSE

[kattracks]

Authorities are investigating whether radio host Rush Limbaugh skirted banking laws in getting cash to buy his illegal prescription painkillers, it was reported last night. Limbaugh made between 30 and 40 cash withdrawals from his account at U.S. Trust in amounts just under $10,000, ABC News quoted law enforcement officials as saying.

At one point, a U.S. Trust employee delivered about $9,900 in cash to Limbaugh at his New York studio, ABC reported. Banks must report withdrawals of $10,000 or more to the federal government.

Law enforcement officials will decide this week whether to prosecute Limbaugh on the felony money-laundering charges, ABC News also revealed.

"There's no basis for these charges. He has not committed any acts of money laundering and he absolutely denies it," Limbaugh's lawyer, Roy Black, told ABC. "I can assure you - and Rush assures the listeners to his radio station - when we can, we will tell the story, and he will tell it himself. Everybody will see what has really gone on here."

Black could not be reached for further comment last night.

ABC's report also said that officials in New York, in addition to Limbaugh's home state of Florida, are handling the probe.

Representatives for New York State Attorney General Eliot Spitzer and the New York State Banking Office said they were not aware of any investigation.

Limbaugh returned to the WABC radio airwaves Monday after checking himself into a painkiller detox program five weeks ago.

Originally published on November 19, 2003

[kattracks]

How is this money laundering?

[Hank Rearden]

Ok, so if he didn't take out $10,000 or more he didn't need to be reported.

The Feds can shove it up their butt on this and pretty much every issue. I'm sick to death of any damn thing they want to be a crime, if only they trot out some moldy old, obscure statute someplace.

These parasites need to be fired.

[Aracelis]

Dittos

[Dajjal]

BTTT

[BlackbirdSST]

How is this money laundering?

Welcome to the WoD's! US anti drug war types have been asking these kinds of questions for more than a decade. When will his properties be seized and auctioned off? Blackbird.

[greasepaint]

First of all, I would call what Lim. did
'money unlaundering'.
However, several withdrawls of 9 grand; with the intention of skirting (being reported by) the 10 grand cash reporting law*, and with the
intention of comitting a crime, that might be a
crime in Florida. Does Lim. still maintain that he
will cooperate with authorities...as he (or his spokesman?)
said he would do shortly before he went to rehab?
*I believe this law applies to fin.institutions

[japaneseghost]

do you guys REALLY NEED ME to send you the links to where you can legally buys narcotics online???

I mean REALLY.

Hellooooo...... you guys ever heard of WWW.DRUGBUYERS.COM

If I, or Joe Blow in Iowa can buy whatever we want online, EXPRESS SHIPPING, why should Rush or Jeb Bush's daughter (that POOOR GIRL) be so made into demons by the lamestream media.

Can't these guys google?

[Maurice Tift]

Banks must report withdrawals of $10,000 or more to the federal government.

We can't have this! People taking 10,000 out of the bank! Why, if everyone took $10,000 out of the bank, it would drive the Feds nuts!

[onyx]

FGS! It's NOT money laundering. In fact, Rush or anyone else is free to deposit or to withdraw any amount of cash under $10K without the bank having to report the transaction to the IRS. In the past, I've done the same thing many times. For Rush, this is petty cash --- walking around money. Another attempt by his enemies to smear him.

[greasepaint]

In my speculation, Lim. went to the black market, instead of
www.dopers'online'sourceof'opiates.com, to avoid being
'outed' as an opiate user.
For the same reason, he went to the black market, instead of finding a doctor
the would provide him with legit opiates.
I don't believe, that, Lim. could not find a doctor who
would presribe what Lim. wanted.

[Khurkris]

Agree...same here. But just try and get $9,000 or $8,000 of your money from your bank. It has taken me 3 days and 3 seperate trips to get $8,000 cash from my bank. Seems they just don't like to give the money back once they have it. The cash that is. (I sometimes buy/sell cars when a deal comes along. And cash is a better bargain tool.)

[onyx]

I've not initiated a similar transaction in over a decade, so I have no idea what their policy is nowadays, but I venture to say, that I would change banks, unless all banks operate the same. There's no legitimate reason for your bank to give you your funds in cash in three separate transactions. They are required to have a certain amount of cash on hand; an amount far above your withdrawal.

[Jim Noble]

I'm sick to death of any damn thing they want to be a crime, if only they trot out some moldy old, obscure statute someplace.

The laws against "structuring" aren't old, they are a War on Drugs innovation begun in the 1980s that become more and more complicated year by year.

Monitoring your handling of cash to catch you in some other crime is certainly a Fourth Amendment violation, and it does create an environment where they can make "any damn thing they want to be a crime"-but it's new, not old, and we can change it if we want to.

[AmericaUnited]

If you take out lower amounts (<$10,000) in multiple transactions, for the express purpose of not having the transaction get reported, that is called "structuring" and is a "problem".

Of course, they have to prove that your motive was evil.

[Jack of all Trades]

While its's dangerous to make blanket statements, I would say that yes, all banks do operate the same. $10K is the requirement for federal reporting, but banks will notice much smaller transactions. They look for patterns of activity, dates for example, or cycles that don't fit the norm of a clients history. This has been developing for the past twenty years or so.

[Betty Jane]

i tried to pay an american express bill with cash. I was told they won't take more than one thousand dollars in cash due to the WOD. I believe there was some additional reporting requirement if they received that much in cash. So, yes Big Brother is here and he's watching our every move

[mewzilla]

OFGS. Okay, I've had it. Let's just out ever darn drug abuser in the media, why don't we. That should take care of this. And somehow I don't think they pay for their drug habits with bake sales.

[Vigilantcitizen]

"I'm sick to death of any damn thing they want to be a crime, if only they trot out some moldy old, obscure statute someplace."

"Did you really think that we want those laws to be observed?" said Dr. Ferris. "We want them broken....There's no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren't enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws. Who wants a nation of law-abiding citizens? What's there in that for anyone? But just pass the kind of laws that can neither be observed nor enforced nor objectively interpreted – and you create a nation of law-breakers – and then you cash in on guilt. Now that's the system, Mr. Rearden, that's the game, and once you understand it, you'll be much easier to deal with." --

Ayn Rand, Atlas Shrugged, Ch. III, "White Blackmail"

[Rebelbase]

The character assasination by the leftist media continues.

[Flyer]

if everyone took $10,000 out of the bank, it would drive the Feds nuts!

We should gather $10,000 in contributions and send it from FReeper to FReeper to deposit and withdraw.