I personally believe that some of the outrageous prices paid at these large auction houses are laundering ill-gotten gains. It can be done very easily.
Laundering is typically done with high value commodities that are easy to transport across international borders, are in widespread demand (globally) and are difficult to trace. LCSs, online comic traders and comics in general are really bad laundering vehicles for those reasons (and many others). By comparrison, look into grey market dealers within the luxury watch industry - or the international gem trade - if you want to see active money laundering going on at a much higher and more lucrative rate.
@@nullifidian2228 Sure and some may have tried it no doubt but my point is that there are many other (more profitable and easier) alternatives. The crims laundering money are not trying to flip 50-100k, they're looking to clean millions at a time (on the regular).
Fantastic video. I used to work in the back office of a bank monitoring for money laundering and suspicious activity, and you hit the nail on the head. I’ve filed so many reports on tire shops and farms, but never did have anything cool like a comic shop that needed a report. I’d have told my boss that I needed to visit the shop to do an undercover investigation. 😂
The only flaw with this theory is that you can’t pay cash on EBay or Whatnot. You would have to take your ill gotten cash gains to the bank and deposit it into an account that you would then draw on through PayPal or Venmo, etc. to make your “purchases.” The government would be suspicious of these large cash bank deposits. To launder money you would need an all cash business so your illicit cash isn’t seeing the inside of a bank.
This has been a long-standing issue in comics and many other forms of collecting. However, proving it beyond a reasonable doubt is incredibly difficult. While tax avoidance is widely practiced and, in many cases, considered a national pastime, tax evasion is a crime. The reality is, no one-absolutely no one-reports every bit of cash they receive on their taxes (tax avoidance).
Reminds me of when the Federal Trade Commission tried to go after Diamond Distributors in the late 1990s for being a monopoly. Comic book dealers BEGGED the FTC NOT to go after Diamond because they were the only game in town for comic book distribution. Flash forward to 2019 and now you have Diamond and at least two other distributors of comic books.
Unknown at the time that Diamond was acting almost like a bank to many retailers, allowing them to maintain a tab. A lot of these shenanigans came out when Diamond shut down during the pandemic and refused to pay publishers.
Choosing an LCS for money laundering would be a poor decision because it would draw unnecessary attention. Profits at typical LCSs are generally modest, and if several businesses in the same area show similar earnings while one stands out with profits that are five to ten times higher, it would likely raise red flags. Plus Walter White taught us all that a car wash is the way to go!
Bro that's what paintings are for, it's been proven many times in the past and you see it now when you see the ugliest paintings done in the most stupidest ways by some nobodies going for 100's of thousands if not millions of dollars, you can produce better art by wiping your ass, and yet we see real artist with real talent making the most awesome portraits and landscapes, yet they'll be lucky to sell one for $100
100%. LCS only offer a receipt if you ask, at the end of the day they can fix the books on what they "sold" retail and they don't report it as income for the day, unless you use a card. On PayPal with friends & fam, always pay with a CC and you will have the same protection to dispute that charge if you get ripped off. PayPal has dispute resolution as well. Dealers at cons pay the table fees & their income is largely unreported unless they take CC. LCS buying your comics will ALWAYS offer you 1/4 of what you think a good comic is worth, and they bulk buy short & long boxes for $20-30 each. They resell to their customers at retail & Overstreet/eBay comparable prices as well.
Super easy to launder I guess. You have dirty money, use it to buy a collection, then turn around and sell the collection, now you have clean money. Or create a bunch of fake transactions at your shop, put the dirty money in the register, take it to the bank at the end of the day and deposit it. Then come back a week later, withdraw money from it, it’ll be fresh new bills. So long as the bills aren’t marked you are fine.
Who cares if you pay fee's if the money is stolen or made from selling illicit drugs, lol. I been saying this for years. Another way to do it is to have multiple people go to the casino, cash in 5k in chips, (keep it under 10k) play for a few hours, loose some money, then cash out the chips for new cash and off you go.
The fact they don't take cards is not for money laundering. It's to avoid having to declare taxes on receipts, taxes they don't pay. If they ask for cash only, ask for a receipt. If they don't comply, then you know why.
Im selling my small comic book collection tomorrow - 11/23/24. I was offered $1350. The store owner said he’d give me half-ish tomorrow then the rest later. Im not sure what the “later” is. Next week? Next month? After the holidays? How can I protect myself but also be fair to the owner who may not have $1350 on hand?
@@lukemorley3540 Well, I worked up a Bill Of Sale which will reflect what the store would owe me minus what they already paid. I figure if they don’t pay I can use small claimed court to get the rest. I know thats a pain in the ass, but I was trying to meet them half way. No?
There is an LCS around me where the owner doesn’t have his customers pay sales tax (7.75%) if you pay in cash. Now, he’s not money laundering, but he may fib a little on his taxes
Yes…I went to a shop that only took cash. I left everything on the counter and walked out. The owner started cussing me as I departed and accusing me of not supporting small business. Needless to say…he went out of business.
Was onto this 4yrs ago. You could walk into a card show and nobody be to the wise because you're amongst other criminals. Any unregulated market is ripe for money laundering. Art, Wine, comics, Coins, Sports Cards, home repair etc etc good video
To all the card only buyers: When electric grids go down or even wifi internet goes down, most stores won't be able to do business unless you have cash money. Key point- Always keep some cash on you because you never know.
Goose neck the conspiracy theorist. Who really cares if people are laundering money through a comic shop. Good of them if they are. Get that money, the real American dream way.
I personally believe that some of the outrageous prices paid at these large auction houses are laundering ill-gotten gains. It can be done very easily.
The bigger question is, where is the dirty money coming from?
Laundering is typically done with high value commodities that are easy to transport across international borders, are in widespread demand (globally) and are difficult to trace. LCSs, online comic traders and comics in general are really bad laundering vehicles for those reasons (and many others). By comparrison, look into grey market dealers within the luxury watch industry - or the international gem trade - if you want to see active money laundering going on at a much higher and more lucrative rate.
@@nullifidian2228 Sure and some may have tried it no doubt but my point is that there are many other (more profitable and easier) alternatives. The crims laundering money are not trying to flip 50-100k, they're looking to clean millions at a time (on the regular).
This more accurately describes tax evasion than laundering.
You don't need a gas station, you just need a whatnot comic reselling channel
Fantastic video. I used to work in the back office of a bank monitoring for money laundering and suspicious activity, and you hit the nail on the head. I’ve filed so many reports on tire shops and farms, but never did have anything cool like a comic shop that needed a report. I’d have told my boss that I needed to visit the shop to do an undercover investigation. 😂
The only flaw with this theory is that you can’t pay cash on EBay or Whatnot. You would have to take your ill gotten cash gains to the bank and deposit it into an account that you would then draw on through PayPal or Venmo, etc. to make your “purchases.” The government would be suspicious of these large cash bank deposits. To launder money you would need an all cash business so your illicit cash isn’t seeing the inside of a bank.
Guys don't tell anybody, but I think Sticky Goose is speaking from experience.
You just blew Man-Bun’s cover!
Glad you got back down to business! Lost me for a bit, due to the drama.
Enjoying the refreshing content and refocus of the channel. 🇺🇸🇺🇸🇺🇸
This has been a long-standing issue in comics and many other forms of collecting. However, proving it beyond a reasonable doubt is incredibly difficult. While tax avoidance is widely practiced and, in many cases, considered a national pastime, tax evasion is a crime. The reality is, no one-absolutely no one-reports every bit of cash they receive on their taxes (tax avoidance).
For quite some time, I have harbored suspicions regarding the comic book industry engaging in money laundering activities.
Reminds me of when the Federal Trade Commission tried to go after Diamond Distributors in the late 1990s for being a monopoly. Comic book dealers BEGGED the FTC NOT to go after Diamond because they were the only game in town for comic book distribution. Flash forward to 2019 and now you have Diamond and at least two other distributors of comic books.
Unknown at the time that Diamond was acting almost like a bank to many retailers, allowing them to maintain a tab. A lot of these shenanigans came out when Diamond shut down during the pandemic and refused to pay publishers.
Choosing an LCS for money laundering would be a poor decision because it would draw unnecessary attention. Profits at typical LCSs are generally modest, and if several businesses in the same area show similar earnings while one stands out with profits that are five to ten times higher, it would likely raise red flags.
Plus Walter White taught us all that a car wash is the way to go!
I confirm that as I am a CCO/AMLCO of a BD and it would not work at an LCS unless the operation was huge
Bro that's what paintings are for, it's been proven many times in the past and you see it now when you see the ugliest paintings done in the most stupidest ways by some nobodies going for 100's of thousands if not millions of dollars, you can produce better art by wiping your ass, and yet we see real artist with real talent making the most awesome portraits and landscapes, yet they'll be lucky to sell one for $100
Thank you for this tutorial on money laundering. I hope to be very successful and will give you full credit for the inspiration.
Instructions unclear, scrubbed my savings with Batman adventures #12 & now both are ripped 😢
I knew i inhearently liked something about the comic industry. Real american
I can guarantee people have done this and the fees are half of what professionals charge
No one can take a person wearing a cap like that seriously. Especially while wearing short sleeves.
100%. LCS only offer a receipt if you ask, at the end of the day they can fix the books on what they "sold" retail and they don't report it as income for the day, unless you use a card. On PayPal with friends & fam, always pay with a CC and you will have the same protection to dispute that charge if you get ripped off. PayPal has dispute resolution as well. Dealers at cons pay the table fees & their income is largely unreported unless they take CC. LCS buying your comics will ALWAYS offer you 1/4 of what you think a good comic is worth, and they bulk buy short & long boxes for $20-30 each. They resell to their customers at retail & Overstreet/eBay comparable prices as well.
Oh is this the dude that lost to comic Tom lol
Oh this is the dude that keeps watching… lol
I was in a LCS that only took cash, seemed a little shady to me for sure.
Now your videos are funny & educational 😉
Great video 👍
I've said this for years. Always telling my cousin this would be my plan if I had money to be laundered.
i much rather have a laundered AC #1 than a banana taped to the wall.
I agree. Conventions too. You could buy and sell with different vendors at the same show.
I always believed it was a playground ready to be played on
“Hi welcome to baseball cards since the 80s”
Any unregistered asset (the entire collectibles class) is ready made for laundering.
No wonder 🤔 LCS are always closing down..
My first LCS didn't charge sales tax and later on I started getting a discount. This was in the 80s.
Sticky goose going after the cartels now! 😅😂
Super easy to launder I guess. You have dirty money, use it to buy a collection, then turn around and sell the collection, now you have clean money.
Or create a bunch of fake transactions at your shop, put the dirty money in the register, take it to the bank at the end of the day and deposit it. Then come back a week later, withdraw money from it, it’ll be fresh new bills. So long as the bills aren’t marked you are fine.
Who cares if you pay fee's if the money is stolen or made from selling illicit drugs, lol. I been saying this for years. Another way to do it is to have multiple people go to the casino, cash in 5k in chips, (keep it under 10k) play for a few hours, loose some money, then cash out the chips for new cash and off you go.
We all know it's happening. Who would suspect comic book nerds?!?!
My comic shop owner is Mr White.
Damn you. I was making a video on this just as this hit. lol Well done sir lol
I feel like if Sticky had hair he would not have a beanie on 😬
You sure you want to mess with me Bobby?
🏃♂️💨💨💨
The fact they don't take cards is not for money laundering. It's to avoid having to declare taxes on receipts, taxes they don't pay. If they ask for cash only, ask for a receipt. If they don't comply, then you know why.
I see that on eBay and never put two and two together.
Great vid dude, its the same with art.
Im selling my small comic book collection tomorrow - 11/23/24. I was offered $1350. The store owner said he’d give me half-ish tomorrow then the rest later. Im not sure what the “later” is. Next week? Next month? After the holidays? How can I protect myself but also be fair to the owner who may not have $1350 on hand?
Do not agree to that. They are all liars. You may never get that money
@@Stickygoose Thank you. I appreciate your help. I’ll give the guy a call and if hes not paying me today, I guess I cant sell them to him.
Why on earth would you hand over items with only half paid ?!
Give them half
Or give them all of them when they’ve paid the second payment
@@lukemorley3540 Well, I worked up a Bill Of Sale which will reflect what the store would owe me minus what they already paid. I figure if they don’t pay I can use small claimed court to get the rest. I know thats a pain in the ass, but I was trying to meet them half way. No?
@@lukemorley3540 Update: I got $1300 cash. no hassles. Im a happy camper.
Finally the truth ...Keep it coming..
the Big books da vol 1nes' '
There is an LCS around me where the owner doesn’t have his customers pay sales tax (7.75%) if you pay in cash. Now, he’s not money laundering, but he may fib a little on his taxes
Don't be a snitch.
@@lupea8079 Too late. I’ve already contacted the I.R.S. because I hate not paying sales tax and I want there to be less comic shops in my area.
im not saying this book was stolen but there s alot of stolen goods being sold on what not ....
The good shops itemize their receipts
_A federal, pound-me-in-the-a$$ prison._
It's funny that you think money laundering is a danger anymore
When did you turn into Tim Pool?
Snitch
Good video.
Yo
Yes…I went to a shop that only took cash. I left everything on the counter and walked out. The owner started cussing me as I departed and accusing me of not supporting small business. Needless to say…he went out of business.
Are you saying that I might be able to trade comics for sex and drugs?
Oh no... my LCS has always been cash only. Am I a front for money laundering?
Sell your idea to Netflix…
Was onto this 4yrs ago. You could walk into a card show and nobody be to the wise because you're amongst other criminals. Any unregulated market is ripe for money laundering. Art, Wine, comics, Coins, Sports Cards, home repair etc etc good video
To all the card only buyers: When electric grids go down or even wifi internet goes down, most stores won't be able to do business unless you have cash money. Key point- Always keep some cash on you because you never know.
Yep.. when all the electrical grids go down..running to the comic shop will be my first priority.
@@uglyewok6715 The obvious point was that all places like grocery stores are in the same boat.
Goose neck the conspiracy theorist. Who really cares if people are laundering money through a comic shop. Good of them if they are. Get that money, the real American dream way.