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Old 15.02.2013, 08:22
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Man caught at customs with 9,000 EUR stuffed in underwear

From World Radio Online.

Thursday, 14 February, 2013, 10:16
Man caught with cash in underwear

Italian financial police had an unusual discovery at the Ticino border on Wednesday.

They stopped an Italian businessman who was exiting Switzerland and found that he had 9,000 euros in brand new 500-euro bank notes.

When they questioned him further, he produced 300 more 500-euro notes from his underwear.

Half of the money was confiscated by Italian customs.

The man decided to take the remaining money and return to Switzerland.

Last edited by lost_inbroad; 15.02.2013 at 11:23. Reason: changed title
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Old 15.02.2013, 08:51
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Re: Money really can compensate for small....

Brains?
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Old 15.02.2013, 09:09
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Re: Money really can compensate for small....

They confiscated the money and the let him go.. ???? Weird.. They didn't press charges on him?
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Old 15.02.2013, 09:12
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Re: Money really can compensate for small....

If you stop someone and force them to hand over all their money....is it not called a mugging?
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Old 15.02.2013, 09:17
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Re: Money really can compensate for small....

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From World Radio Online.

Thursday, 14 February, 2013, 10:16
Man caught with cash in underwear

Italian financial police had an unusual discovery at the Ticino border on Wednesday.

They stopped an Italian businessman who was exiting Switzerland and found that he had 9,000 euros in brand new 500-euro bank notes.

When they questioned him further, he produced 300 more 500-euro notes from his underwear.

Half of the money was confiscated by Italian customs.

The man decided to take the remaining money and return to Switzerland.
He probably just did it to make him look bigger.
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Old 15.02.2013, 09:30
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Re: Money really can compensate for small....

So what did he do that was illegal?
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Old 15.02.2013, 09:58
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Re: Money really can compensate for small....

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So what did he do that was illegal?
According to the OP's report, the guy had 159'000 euros in cash on him. You're only allowed to take something like 10k across in cash I believe.
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Old 15.02.2013, 10:25
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Re: Money really can compensate for small....

There is no reason for anyone to carry that sort of money in cash anywhere.
Any amount over EUR10k in cash form is probably dirty in my opinion so unless you can prove where it's come from and that where it comes from is legit it will of course be confiscated.

Still not sure how you would fit 300 notes in your pants. The story sounds a bit made up.
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Old 15.02.2013, 10:27
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Re: Money really can compensate for small....

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There is no reason for anyone to carry that sort of money in cash anywhere.
Any amount over EUR10k in cash form is probably dirty in my opinion
Why?

I've paid cash for several motorcycles, up to 15k.

Tom
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Old 15.02.2013, 10:28
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Re: Money really can compensate for small....

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You're only allowed to take something like 10k across in cash
Unless you declare it.

Tom
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Old 15.02.2013, 10:35
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Re: Money really can compensate for small....

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Why?

I've paid cash for several motorcycles, up to 15k.

Tom
Why? from a security point of view, wouldn't it always be more sensible to do a bank transfer?
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Old 15.02.2013, 11:00
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Re: Money really can compensate for small....

Yes, but bank transfers over 10K are also reported to authorities, so that it can be traced.

As said, the government wants to know when larger (> 10K) sums of money are moving, because they assume that amount of cash means that you are doing something illegal (tax evasion, money laundering, etc.).

Once each year, I would withdraw almost 25 KCHF in cash from one bank, walk across the street and deposit it in another bank. This was perfectly legal - I was just moving money from my savings account (with no e-banking access) to my checking account so that I could pay my tax bill. But I'm sure somewhere there were alarm bells ringing when I deposited 25 KCHF in cash...
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Old 15.02.2013, 11:01
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Re: Money really can compensate for small....

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Why? from a security point of view, wouldn't it always be more sensible to do a bank transfer?
We are in Switzerland, cash is king.

Tom
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Old 15.02.2013, 11:04
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Re: Money really can compensate for small....

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Once each year, I would withdraw almost 25 KCHF in cash from one bank, walk across the street and deposit it in another bank. This was perfectly legal - I was just moving money from my savings account (with no e-banking access) to my checking account so that I could pay my tax bill. But I'm sure somewhere there were alarm bells ringing when I deposited 25 KCHF in cash...
Years ago, I used to get my 12th, 13th, and bonus at the same time, all in cash!

Tom
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Old 15.02.2013, 11:13
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Re: Money really can compensate for small....

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Why?

I've paid cash for several motorcycles, up to 15k.

Tom
Because it's stupid.

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Old 15.02.2013, 11:44
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Re: Money really can compensate for small....

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There is no reason for anyone to carry that sort of money in cash anywhere.
Any amount over EUR10k in cash form is probably dirty in my opinion
any money stuffed in your underpants is dirty in my opinion
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Old 15.02.2013, 11:48
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Re: Man caught at customs with 9,000 EUR stuffed in underwear

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From World Radio Online.

They stopped an Italian businessman who was exiting Switzerland and found that he had 9,000 euros in brand new 500-euro bank notes.

When they questioned him further, he produced 300 more 500-euro notes from his underwear.
So 300*500= 150 000euros
+ 9000 euros=

159 000euros!!!



Was he going to Switzerland for a weekly food shopping or what?
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Old 15.02.2013, 11:51
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Re: Money really can compensate for small....

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Because it's stupid.
Why?

People do it here all the time.

Tom
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Old 15.02.2013, 11:58
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Re: Money really can compensate for small....

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Why?

People do it here all the time.

Tom
Because it's better to give money to the bank, in exchange of a ridiculous interest rate, so they can have control on your money, annoy you with administrative craps, fine you if you dare goes negative.

Oh and so they can charge you 2.5% + bad conversion for any transaction with credit card.

Hm, yes it does look stupid (using banks)
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Old 15.02.2013, 12:00
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Re: Man caught at customs with 9,000 EUR stuffed in underwear

The new title's crap. Can we have the old one back?
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