Authorities Eye Whether Rush Limbaugh Laundered Money Used to Pay for Drugs

ABC News ^ | Nov. 18 | Brian Ross

[Principled]

Hey, does the law say report cash movement to the Gov for less than $10,000?

I wondered this too. It is quite the eye-opener when you realize that banking transactions are being monitored for "suspicious activity" - however they choose to define that on a given day.

Hello Nicaragua/Costa Rica. My money is my own.

[meyer]

Let me get this straight. If you withdrawl cash from your bank account ( clean money ), and then use that money to buy prescription pain medication illegally, you can be charged with money laundering. How is that ??? What am I missing here ?

Has he actually been charged? The article doesn't really say that, although the lawyer mentions the word "charge" in his statement (which was probably taken out of context). I also wonder if he actually obtained prescription meds illegally, or if he was prescribed the medications in increasing amounts. Regardless, its not money laundering.

I'll bet that ABC is giddy about this!

[DrKnow]

NEWSFLASH: It’s not against the law to withdraw money from your bank account. It’s your money and you can withdraw any amount you wish.

NEWSFLASH: Laundering money is the process of concealing illicitly acquired funds. Laundering is what drug dealers do. They don’t think it’s a good idea to tell the IRS they have committed a crime.

Assuming (for sake of argument) that Rush illegally purchased prescription drugs:

ABC is claiming investigators are seeking to prove that Rush is somehow responsible for the tax returns filled by the person selling the prescription drugs. Huh? When you report your income to the IRS, the only person legally responsible for that filling is you – just ask the boys and girls at H&R Block.

[MonroeDNA]

I have an account in which I withdraw and deposit money in the range suggested.

I purposely avoid the $10k limit, because it is none of the damn government's business.

I will continue to do so.

[meyer]

That caught my eye too. Either the limit is $10,000 or it's not. How far below $10,000 is below the threshold of suspicion?

Good question - I'm getting the urge to make a cash withdrawel and I'd like to know how much I can remove without raising an eyebrow.

[LPM1888]

The left are just digging themselves deeper with this crap. Notice how they conveniently what until furthur down the article to detail the charges, which seem to me to place the bank at fault if anyone.

I remember a story in the Florida news a few years ago where two people went to jail for twenty plus years for doing the same thing. This is a serious charge with heavy consequences.

[Petronski]

Hey, your recollection of the law in this matter matches mine. That is reassuring. ;O)

[MonroeDNA]

"Don't you just love these johhny come lately to free republic."

Hey Jonny-come-lately, how's it going?

[dts32041]

"The true test of weather you own something is: Being able to do what you want with the object you own."

I actually like Walter E. Williams definition bettter "The true test of wether you own something is: Being able to sell it."

[Ramius]

I understand about the reporting requirements, but those requirements are on the bank to file the report are they not? Not the depositor.

[Petronski]

I'll admit, I thought the govt. sold me on the Patriot Act because it was only to address terrorism.

The 'structured transactions' and reporting requirements and for that matter asset seizure provisions predate the Patriot act by years and years, as I'm sure you well know, and are a product of the WOD in the late 80s, IIRC.

[gdc314]

It's a catch-22...from what I see any "unusual activity" can and is supposed to be reported to the gov't...now define unusual...

[Peace will be here soon]

Has he actually been charged?

---

Rush is only being investigated. No charges have been filed, yet.. So all of this could be a bunch of garbage. The truth will come out eventually.

[Ramius]

Roger that. Seems to me that "laundering" is the process of taking *illegally* gotten moneys, and hiding the source. Nothing about that here. Don't get it.

[Petronski]

I understand about the reporting requirements, but those requirements are on the bank to file the report are they not? Not the depositor.

There is liability (criminal or civil, I don't recall) on the bank for failing to report a reasonable suspicion of 'structuring to avoid' and there is also criminal liability on the customer for 'structuring to avoid.'

[Anarchist]

As I recall, one of the Clinton lawyers also did work for the National Enquirer.

Do you suppose there's a connection?

[DumpsterDiver]

Here's my guess on the money laundering:

Rush was paying cash to someone/dealer to illegally purchase drugs. Rush should've known that the seller was not going to claim that money as income so that makes Rush part of a "plot" to hide income from the Feds.

How does that sound?

[Normal4me]

Well, I do have $222.00 worth of rolled coins. I am still trying to figure out how to launder that! ;-)

[dts32041]

My gosh someone who still remembers when Free Republic used tin cans to post.

You became a member about the time I started lurking, my hats off to you.