Posted on 02/01/2014 1:24:22 AM PST by dennisw
Garnett Gilbert Smith shipped a ton of cocaine from California to Maryland between 2010 and 2011 and 'trafficked heroin' He earned $10 million which he spent on vacations, properties and parties Authorities seized $1.7 million in jewellery, 19 vehicles, $740,000 cash, properties and $258,000 worth of designer clothes
One of Baltimore's biggest ever drug dealers has been jailed for 25 years for shipping a ton of cocaine - and enjoying a life of fast cars, designer clothes and luxury properties with the earnings.
Garnett Gilbert Smith's lavish life was revealed in court in Baltimore, where he was found guilty. Garnett Gilbert Smith's lavish life was revealed in court in Baltimore, where he was found guilty of shipping the drugs from California to Maryland between 2010 and 2011.
The 44-year-old cleared $10,000 profit on each kilogram, raking in more than $10 million in total, according to court documents. Prosecutors say he also trafficked heroin.
He splashed the cash on stays at the Montage Hotel in Beverly Hills - where rooms can reach $1,000 a night - and owned or rented numerous properties in Baltimore, Georgia, Virginia and California.
He had an impressive fleet of 19 luxury vehicles, including a $162,300 Lamborghini Murcielago, a $219,000 2009 Maybach, a $165,000 Aston Martin and motorcycles worth up to $65,000.
His designer wardrobe included items from Gucci, Cartier and Louis Vuitton.
Authorities also seized $258,000 worth of shoes, belts, pants, glasses, belts, hats and bags from his Atlanta storage unit, the Baltimore Sun reported.
They also took £1.1 million in jewelery from his condo in Studio City, California, and $741,000 in cash - some hidden in speakers and tool boxes - from his Maryland home.
(Excerpt) Read more at dailymail.co.uk ...
More details on his lavish lifestyle at the source. A bit hilarious.
“Get rich or die trying” -— rapper 50 Cent
What always amazes me is how someone can live so ostentatiously on illegal income and get away with it for so long. It’s one thing to make a bazillion bucks pushing junk and limiting your excesses to “bling” and maybe a car or two. But this guy was flashing it in everyone’s face. You’d think it would be pretty easy to nail someone like that on tax evasion.
Maybe someone should have claimed he was trying to start a Tea Party non-profit. That woulda brought the dogs running for sure...
What he didn’t buy, and could so easily done so, was a few politicians with influence.
A fool and his money-—how soon they part.
Not a very good application of your cliche.
The problem here...is that once you start having your weekly income slide from $600 to $10,000...you will start to do stupid things. And when you start to clear $100,000 a week....life gets fairly difficult.
You can’t put the money into a bank. You can’t go and invest in stocks. You can’t run a foundation that hides the money. So, you spend it.
If any of these drug idiots ever hired a smart budget and finance guy....to hide the money and set up a foundation with property investments (never leading back to the drug empire guy)....then a regional drug kingpin could be a billionaire in ten years.
Note, this isn’t the Baltimore press that told the story....which ought to make you wonder why they couldn’t even tell the story in their own backyard.
I don't think it can be done without someone looking the other way. Everything is traceable by the government - if they want to trace it, that is.
VERY SIMPLE
To launder his money he should have shipped his cash down to Mexico to get laundered. Then make investments in other countries far way from US Justice and seizure. In his shoes I would have owned a minimum of flashy property, automobiles etc within US borders.
The only trick then is to stay ahead enough of the US law where you are not thrown in US jail without bail. Plus pre-arrange your escape routes to Brazil etc. that work even if they seize your US passport.
Further proof there is no equal to freedom. Keep that in mind, ya’ Marxist scumbags.
The cretins in the WH have that beat by at least times 10, and they didn't even earn it.
I would disagree. You find a guy who knows how to establish a business. Fund him with cash only. He goes out and rents-to-own a lot....which he avoids large cash down payments. He builds an aluminum building....cash only of course. Nothing fancy.
Then he uses his remaining cash to buy used cars. Cash on the spot. You never spend more than $9999 on any used car. Once your lot is full....advertise it as a ‘for-sale’ business....worth X amount of money. Once paid for this....you walk into the bank and deposit the check for the start-up business. The bank notes this to IRS, but it’s a legit business transaction. You pay taxes on the car sales, and the business sale profits. From that point on....you start to buy real estate, fund Congressmen with cash, and start fake foundations like all the NBA or NFL guys do. You keep the drug kingpin out of the whole mix and simply act as his funnel for exercising cash flow.
After a while, you start to buy bank bonds like big guys do....moving the bonds overseas and swapping them for bigger currency bonds. IRS may pretend they monitor this stuff...but the gimmick investment crowd that hide income for the ultra wealthy know the entire game.
Very good and well thought out. I will hire you if I ever because a drug kingpin. There are so many foreign born rip off artists (Muslims and from Eastern Europe) in the used automobile business these days and now I know why.
Sounds like there is a little more room in America for the American Dream.
One of a million, anyone feeing safer because of this?
“Get rich or die trying” -— rapper 50 Cent
The Baltimore Sun did a good job reporting this story. (Sorry, my brain won't wrap around the html code this morning).
http://www.baltimoresun.com/news/maryland/crime/blog/bal-drug-dealers-lavish-lifestyle-on-display-as-he-gets-25-years-20140130,0,2562956.story
“The problem here...is that once you start having your weekly income slide from $600 to $10,000...you will start to do stupid things. And when you start to clear $100,000 a week....life gets fairly difficult.”
This would also be known as “The Charley Sheen Syndrome”.It is characterized as young men making oodles of cash each week, doing hookers and blow at a racehorse pace.
he’s living almost as large as Obama, except he earned his money providing goods and services people paid for.. lol..
The tax return would be flagged because of the high income, and very low or zero offsetting cost basis of the business.
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