Quote:
Originally Posted by auctionjmm
I've always thought the sports card business would be the perfect place to launder money. I have no doubt that it's happening. Maybe not to the extent that some on social media may think, but undoubtedly one would expect some percentage of large sports card transactions are being done with dirty money. It's also the path of least resistance. If I sold cocaine and made 50k in cash on the deal, there aren't many places I can spend that cash without someone being suspicious. But if you walk into a card show with 50k nobody thinks twice. Buy a few high end pieces, flip them on eBay, pay your taxes, and those eBay payouts look clean as can be.
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I should be surprised that people don’t realize how relatively easy this is.
Thanks to the internet washing money has never been easier. Deal with items that have an intangible value in a completely unregulated market….
I could wash 9 figures in this hobby without anybody batting an eye. It’s not tough.
Card break businesses are the new record labels.