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  1. #1
    Join Date
    Aug 2006
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    Question Anonymous Cash Deposit in New York

    An acquaintance of mine recently learned that $10,000 in cash ($100 bills) had been deposited into his checking account (in his wife's name) anonymously. He was wondering if there was any legal ramifications to spending the money, potential fraud scenario we may not be aware of or if there was a stated timeframe that must pass before the money can be used?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
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    28,906

    Default Re: Anonymous cash deposit in New York

    How does he know it was a deposit in the form of $100 bills? How do you deposit money in somebody's name to a joint account - you mean, using one of her deposit slips? If so, how did somebody get one of her deposit slips?

    The bank will have reported the deposit to the IRS, which in turn may investigate the source of the money and whether taxes were paid on the money. If this is money from illegal activities, there could be an investigation into whether this is part of a money laundering scheme.

    You call it anonymous - am I wrong, though, that they know exactly where it came from?

  3. #3
    Join Date
    Aug 2006
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    2

    Default Re: Anonymous cash deposit in New York

    He was informed by the branch manager, from a branch not used by them or convenient to get to, who relayed all the details of the transaction. The money was put on hold by the bank while they conducted some sort of internal investigation. It was a blank deposit slip with acct number and name filled in by the despositor. The chain of facts justs seems very shady. He would rather distance himself from the whole mess, but the bank is insisting that after their initial investigation they can find nothing amiss. They realize that taxes would have to be paid, but was wondering if anyone had heard of anything like this?

  4. #4
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    Michigan
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    Default Re: Anonymous cash deposit in New York

    I had a client who claimed that somebody made mysterious deposits into his bank account. At the end of the case, he admitted that he made the deposits himself.

    I still think they know exactly where the money came from.

  5. #5
    Join Date
    Jan 2006
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    38,867

    Default Re: Anonymous cash deposit in New York

    Come on Aaron. Hasn't anybody ever anonymously deposited $10k into your bank account. I figured this happens to everybody. I got mine 2 years ago. I think it is Mr Gates being philanthropic.

    I would doubt there are any legal ramifications but there may be some other strings attached. If it were me, I would seperate it into another account so when "the owner" comes to collect, you still have it.

  6. #6
    Join Date
    Jan 2007
    Posts
    18

    Default Re: Anonymous cash deposit in New York

    +1 JK.

    OP, I wouldn't spend it. When they get it figured out, they will come calling for the money. If your acquaintance doesn't have it, you will get sued.

  7. #7
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Anonymous cash deposit in New York

    now that I revisit this thread I had an idea.

    What if the wife "earned" the money and the payor simply was directed to deposit the money directly into her account.

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