Re: a lot to talk about
1. It should be very easy to set up a cayman islands account and send all profits there. As long as you don't get any statements sent to your apartment there is no way that I can see to detect this kind of scam.
I spent a year investigating people who did exactly this, and only if you are ridiculously stupid or completely ignorant of how law enforcement works can you get on anyone's radar. It's almost pathetic how little slip ups get people caught, and how easy it is to avoid them.
As to reporting, 10k overseas wire or cash transaction gets you an automatic report, anything suspicious gets you a suspicious activity report (i.e. structuring transactions, withdrawing 9.9k every day for a week)
My point is that you never even need to transfer large amounts of cash to a bank account that you own. There is no reason to ever, ever use the overseas card for anything but cash -- you to netteller, netteller to cayman islands, cayman islands to you.
However, let me qualify this by saying I have NO IDEA what goes into an audit. My suspicion is that if you get audited and they see all these transfers to netteller, you'd better have reasonable explanations. I would bet that legitimate gambling reporting mixed with a LOT of non reporting would never get sniffed out because auditors simply have too much on their plates.
I am simply speaking in hypotheticals here. Do NOT take any of this as advice or advocating cheating taxes. I am just saying that if the government realizes what holes exist in international money transfer (esp. through gamlbing) it will freak out and close them.
2. Agreed in part, but with that rationale B&M gambling would be legal everywhere [img]/images/graemlins/smile.gif[/img]
3. Unconscionability stuff was partially a joke. However, it is a contract of adhension and the forum selection clause would cause great hardship to any plaintiff, effectively denying legal remedy. You might run into a claim of unclean hands / illegality which would bar recovery, but that is for contracts 2. [img]/images/graemlins/smile.gif[/img]
FWIW, I'm in biglaw this summer as a 1L associate. 2,400 / wk should finance my bankroll quite nicely [img]/images/graemlins/grin.gif[/img]
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