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 . . .

[familyofman]

I don't think the final outcome of this is up to Rush. The facts will be used by the authorities in the manner they deem appropriate. Rush, of course says he didn't do it - what alledged criminal hasn't said that. Wacko Jacko is also claiming his innocence.

[Area51]

If a say, half assed two bit cybersexing, smearing sneaky attorney was spending his time during the day posting on the Internet while at the same time billing clients for "work" on their cases, and then sent a bill for said work thru the US mail would that constitute Mail Fraud?

[xrp]

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.

In other words, it is an unenforceable law that basically allows government to pry into the citizenry's private business.

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.

Sure they do. If you have cash and want to pay in cash, people should be free to pay 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.

FORMER Georgia Senator Max Cleland introduced or supported a similar bill. If there was a consumption based tax, instead of an income tax, it would be much more simple for the government (US or European) to collect taxes and the intrusion into private life would not be needed.

[leadpenny]

Years ago a Woodbridge, VA car dealership was selling cars to Drug Dealers fromm DC and elsewhere. Salesmen were advising buyers to come in with checks and other instruments below the $10,000 mark. When the doodoo hit the fan a whole bunch of people went to jail including many from the dealership. The $9,999 defense didn't work with the feds on that one.

[TomB]

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.

It's probably worth noting that the US Trust investigation occurred in 2001. It would seem a little long for them to be continuing to investigate this incident.

[Consort]

What I do with my money is not the government's business.

Wishful thinking. The Government minted and printed that money and they will do as they please, as you know.

[Principled]

The figure of $10,000 is unimportant.

Why is it mentioned prominently? It says that (paraphrase)even though the withdrawals were below the limit(end paraphrase) that the feds were investigating anyhow, because IF HE DID IT to avoid attention from the feds, it's wrong... I'm obviously not an attorney... but i did stay at a Holiday Inn Express last night...

[Pkeel]

It is not illegal to withdraw cash over $10,000. A report is generated at that level and you will be examined for possible laundering. The same is true if you deposit $10,000 or more in cash. A report is generated.

Most banks though, internally track cash activity of over $5,000 to see if people are trying to stay under the radar.

[Servant of the 9]

I have been investigating organized crime for 11 years. Money 'structuring' is a big tip off.

It can be.
On the other hand, I have known well to do people who liked their lives private. They withdrew cash in $9,000.00 increments and paid for as many things as possible with it rather than check or credit card, just because they didn't like leaving footprints.

In my limited way I do the same. I have avoided having my picture taken for 25 years, except for a drivers license pic that could be anyone. I have kept my fingerprints to myself. I pay cash whenever possible. My assets are in the name of trustees or shell companies.
I am not doing anything illegal, I just don't want anyone looking over my shoulder.

So9

[Pres Raygun]

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.

Careful, Chancellor. I might remind you of the laws against libel. We don't want to expose FR and Jim Rob or yourself for that matter to a libel suit from Rush. Please stop repeating the unsubstatiated rumor that Rush obtained the painkillers illegally.

[Fury]

What's really commendable is that ABC News worked and worked on this for 5 weeks and was able to complete their work the same week that Rush returned. What timeliness - I'm sure it is just a coincidence...

[TomB]

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.

I'm not sure of your point. The issue was over in 2001.

[mj1234]

What everyone is missing -- Rush Limbaugh is WORTH HUNDREDs of
MILLIONS of DOLLARS!!! $ 9k is chump change - the drugs he was
addicted to- not woth $ 10k. Rush has the Demonrats going
after him big time- he must have been on the Clinton's
FBI list.

[Lucky2]

I think it bill and hillary and their minions. They're out to destroy anyone critical of them. I bet Terry MacAwful is behind it too. Don't ever put anything past the clintons, they're as evil as they come!

[WackyKat]

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.

I saw exactly the same denial and excuses when the story of Rush's drug use broke:

"It's all a conspiracy!"

"Rush never used illegal drugs"

Rush had a good reason for using narcotics"

Rush is not an addict!

And those people were all wrong, weren't they?

[Darlin']

Do you believe everything ABC says ? Why not read the transcript of what Rush had to say about the whole thing today.

[Servant of the 9]

IF HE DID IT to avoid attention from the feds, it's wrong...

Who doesn't want to avoid the attention of the feds, even if they lead a perfectly legal and moral like?

So9

[AD from SpringBay]

...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...

A little anecdotal evidence here - about two months ago I had $3,000 in cash that I used to almost pay off our minivan. I had to fill out a form for momma guv'ment to read. I told the cashier that one of these days we'll be sorry for allowing the government into every area of our lives. I got the doe-eyed aint-got-a-clue look for my troubles.

Didn't Benjamin Franklin write that he'd rather go to bed hungry than wake up in debt? (don't quote me but I read that somewhere one and it stuck with me). I like cash and if it's my cash then it should also be my business.

[leadpenny]

$10,000 is an arbitrary figure. If someone is involved in an illegal activity using $100 checks, it's still illegal. The feds obviously can't check all bank transactions so $10,000 was written into the law.

[chouli]

Fool me once, shame on you, fool me twice, shame on me.

Rush can and does afford excellent accountants who can and most likely did tell him that following that bank's advice was a very very very bad idea.

Red pill or blue pill? What's it gonna be?