Rush: I'm No Money Launderer

NewsMax ^ | 11/19/03 | Limbacher

[Tumbleweed_Connection]

America's number one talk radio host Rush Limbaugh catagorially denied on Wednesday an ABC News report that accused him of "laundering money" to bankroll his addiction to painkillers.

"I am no money launderer," Limbaugh said at the top of his broadcast.

"I know what this is? I know where this comes from," the top talker told his audience. "This is not a leak. This is the purposeful release of false information."

More . . .

[50sDad]

Top of the world, Ma!

[xrp]

Just for my understanding, anyone in here, why the heck would one of the world's richest men need to launder money? (Please leave out any reference to the Bilderburgers, the Tri-Laterial Commission, the Warren Commission, Lyndon LaRouch, Amway, the Reverse-Vampires, and Barbara Strisand.)

Because he is an agent of the Bavarian Illuminati influenced Freemasons!

[gunnedah]

Just as you say to lauder money it needs to be illegally obtained to start with.This is just some of those Neanderthal Liberal Democrats trying to take the attention off of their people leaking classified information from the security council and to cover up their manipulation of the court decision on Affirmative Action they rigged.
The Nation needs to be reminded daily the elected Democrats in this country are the ones trying to overthrow our constitution and that Rush Limbaugh is not elected.
In my opinion the Democrats are trying to overthrow America by controlling the Judicial System and it wouldnt surprise me one bit if they were not aiding Saddam Hussein indirectly.

[newcats]

How would that "piss off" the government unless they did an investigation?
Sounds like you are grasping for straws there in your defense of him. Nice try though.

[Not A Snowbird]

As a mother of three, I launder money all the time. It doesn't amount to much but, finders, keepers....

That's what I call a "laundry tip" in my house...

[Protagoras]

He doesn't need to explain to me what he did with his own money. That would be his business IMO.

It should be, but it isn't. Welcome to Amerika.

[50sDad]

Oh, sure, you. I'd expect that from someone who is in the vest pocket of them.

43

[mj1234]

I think they should look at LEGALLY withdrawn funds...
for everybody that belongs to the vast right wing conspiracy.

If they are found guilty the money should go to the poor
people- democrats - peta- earthfirst- jessejackson-
these people would never circumvent the law...

the following announcement brought to you by CBS and
Dan Blather.

[WackyKat]

Folks who withdraw $9999 to pay cash for a used car aren't committing it, for example? So it's only money laundering if the money's to be used in the commission of a crime that one presumes the alleged perp would want to cover up?

No, the used car buyer has not committed a crime.

The relevant concept here is "structuring", which is engaging in a significant pattern of structuring one's financial transactions so as to avoid triggering various financial reporting requirements by financial institutions.

[xrp]

[Chancellor Palpatine]

Were you listening?

And here is the crux of the issue for Rush - NO.

[Frank_Discussion]

Oh, are you his lawyer? So you've got the inside scoop on the whole case? You've been party to Rush's tearful confession to such activity?

The story hasn't been told yet, y'know.

We all have something to hide, and Rush's money withdrawals may have been hiding something quite legitimate. If it's a legal use for the money, he has the right to keep it secret.

[pepsionice]

Money structuring is basically where a guy takes out regularly...amounts of $9k or $7k...like every 3 days. Obviously the guy knows the $10k problem and gets around it by staying under the limit. Most of these law-breakers are stupid enough not to structure the amounts like $5k on Monday and $9k on Wed and $3k on Friday. Lets face it...why move this much money around in cash? If you intend to buy something these days...you pay in credit cards or with a check...no one hands $8k over for a pontoon boat in cash. If Rush was taking out $24k a week...and each time it was $8k...then I'd suspect something more suspicious.

In Europe, most plumbers and roofers get work on weekends...and take the money in cash. Every couple of months, they take a weekend off and run off to Luxembourg to deposit thousands of Euro into secret accounts and avoid taxes on the money. Its a common activity. The Germans have roadblocks set up around different roads leading into Luxembourg....and force people to open up their cars and their pocketbooks. Anyone with more than $10k in their pocket is automatically a suspect for a tax fraud deal.

[PBRSTREETGANG]

Yeah, but Rush did have something to hide - a multiyear addiction to painkillers that he was apparently buying off the street, in violation of state and federal law.

Please explain how this relates to the allegation of "money laundering".

[Principled]

If he wasn't trying to hide something then why the numerous withdrawls under the $10,000 limit?

While I agree that it may be suspicious for him to behave as such, I strongly oppose allowing the government to define "suspicious".

They could easily find something in my life, or yours, that fits their current definition should they desire to do so.

If he didn't go over the limit, why are they investigating him? I haven't gone over the limit and they're not investigating me (that I know of!).

It seems to be a selectively enforced, arbitrary "law".JMHO

[50sDad]

I am not a number. I am a free man!
        No. 6

Be seeing you!

[TomB]

Yeah, but Rush did have something to hide - a multiyear addiction to painkillers that he was apparently buying off the street, in violation of state and federal law.

Considering the street value for most of those pills (hydrocodone or oxycodone, not oxycontin) is a couple of dollars a pill, he wouldn't have needed tens or hundreds of thousands of dollars to buy those drugs.

[savedbygrace]

It appears you have made a detour in searching for a fascist website.

Here's the Catch-22: If you withdraw $10,000 or more, the federal government insists the bank send them an activity report on you. If you withdraw a bit less than $10,000, the government assumes you are trying to avoid the reporting of a $10,000 transaction.

In either case, the feds assume you have evil motives. So, you assume the government has only good motives at heart, and anyone who does either of these withdrawals has evil motives.

How long have you worked at Treasury?

[mewzilla]

I agree with the law, but its application in this case sounds squiffy to me. Yeah, Limbaugh was breaking the law if he bought illegally obtained prescription drugs, but what if the drugs only cost him $9999? Oh, for crying out loud. Book Limbaugh on the other stuff if he did it. But this money laundering thing sounds like someone's out to make a name for himself. And I don't mean Limbaugh.

[WackyKat]

The excuse of "it was (the other kid's) idea " doesn't work on most parents and is not a valid defense in federal court.