Comment · Tue, June 12, 2018 · Natrium Health & Nootropics Depot
Ceretropic will be closed permanently on 6/22/18
What they were answering
FourFingeredMartian · 3 points
Money laundering is when you make money via an illicit, illegal activity & funnel the proceeds from that venture through another company as to conceal the source of the money.
As long as you're not attempting to avoid taxation, or do something illegal with the money then you should be OK. The only thing you're doing is providing your business, maybe now other businesses, the ability to have a credit processor. Consult with a lawyer, but, what I've suggested should be legal.
edit:
As long as you're not selling 'legal' analogs of illegal substances, you shouldn't have to worry. Just resist selling thins like JWH, or steroids.
u/MisterYouAreSoDumb · Natrium Health & Nootropics Depot
I have spoken to many lawyers. The vendors using this method are playing with fire, and I know there are many of them. It could end very very badly for them.
Here are the relevant statutes for this particular issue:
18 U.S.C. § 1005 (Participation in Fraudulent Banking Activities)
18 U.S.C. § 1014 (False Statements to a Bank)
18 U.S.C. § 1343 (Wire Fraud)
18 U.S.C. § 1344 (Bank Fraud)
Possible 30 years in prison and a million dollar fine per violation. I also have the relevant case precedent, too. The facts of one case are exactly as you suggested: they setup other companies to run their card processing though, because they got dropped due to chargebacks. It ended very very badly for them. I know all the other vendors are using this method right now. Trust me, I have researched more than probably anyone here. They are totally and completely fucked if they get found out. Ain't nobody got time for that.