ItsPeanut

Im not one for conspiracy theories but let me give this a shot. Guy sells boat, anonymous tip about guy with a lot of cash, guy gets caught with cash, guy now has no boat or cash and unfortunately is about to do a nickel in club mex. I would think the guy who bought the boat now has gas money to put into it. Watever the story is i feel bad for both of the guys detained. Thats enough to brake a man. Wish them well.

Marginmn

iTrader: (1)

If the bank is located in Mexico it's a Mexican bank and subject to Mexican laws and scrutiny. You don't just open up a Million dollar bank account in Mexico and then transfer the funds out of the country without Mexican authorities looking into your business. Mexican authorities would insist on knowing where the money came from and if they are due any income tax payments on it before allowing any of it to leave the country. That's why crooks prefer to deal in cash and why authorities call it money laundering - there is no trail with cash.

And to add insult to injury the buyer himself may have been the one who tipped off the cops about the seller carrying all that cash as a means of paying off the crooked cops for continuing to look the other way in his drug dealings. Who knows. It's the Wild Wild West down there.

low_psi

I'm with you. This is exactly what I was thinking too....

TexasVines

another news article says he was convicted for drug distribution and served two years in the past

I will say right off I would have doubts that this transaction was actually drug related as far as him and his captain....as far as the "buyer" and the sources of their cash.....I would be shocked if they were not involved in drugs

I will also say I do not feel the individual and his captain especially deserve to end up in jail especially since I have already said I don't think the transaction was drug related, but at the same time one would have to be a pretty big fool to do a large all cash financial transaction in Mexico and one would have to be a total moron to do a large all cash transaction in Mexico when they already have a drug conviction and two years served in the USA......talk about getting a tattoo on your forehead that says I have a lot of cash, a shady background, and I am not very intelligent please screw me and take my boat, my cash, and then toss me in jail to die as a major kick in the balls to top it all off

I would give 80/20 odds that the person that bought the boat from him knew about the conviction either through researching someone to set up or possibly even through knowing about it because they were somewhere in the past supply chain when the person was popped and convicted and jailed.....I would give 30/70 odds that if it was a large amount of drugs confiscated in the past that got him sent to jail and there was a large financial loss to the Mexican distributor that they did not go out of their way to watch this individual and when the opportunity came for "pay back" they took that chance.....and again I am not even saying the individual in question remotely knew that and in fact they are clearly naive (or stupid) and probably had no idea who's drugs they lost when they went to jail or that anyone would really be looking to "collect' on that debt much less to do so in such a setup

but the fact is cartels have deep connections, they do a great deal of homework on the people they deal with, they get very angry if they lose a load or profits, and I find it strange that after losing the boat, losing the cash, and now suffering horribly Mexico has not decided to go ahead and send him home or to "turn him over" to the USA unless of course they are wanting to collect on the remaining part of the "debt" that is owed from past failed transactions and the person in jail either does not have the funds to pay that "release fee" (bribe) or they are still too dumb to figure out they were set up and they need to go ahead and pay up and GTFO of Mexico...or they are too hard headed and dumb and think they can somehow get out eventually either through toughing it out or the "judicial" system that is non-existent in Mexico especially for foreign nationals

hell the reality is Mexico really has no interest in keeping anyone in jail for anything no matter where they are from they really just have an interesting in sucking them and their friends and family dry for every dollar they can get from them either in lawyers fees or bribes or both.....someone either really hates this guy and he owes them a lot of money or he is just really stupid and has found a way to get people to hate him just for being so stupid as to conduct a large all cash transaction in Mexico and get screwed on the deal and still end up in jail and not be able to pay his way out

this guy never should have been in Mexico in the first place (with a drug conviction and 2 years served) and he never should have been conducting a large all cash transaction in Mexico especially on something like a fancy boat

hell no one in their right mind would be there making such a large transaction....but hang the drug conviction on someone as well and damn you can about guarantee you are going to be cheated and screwed

again he may be the nicest guy in the world and fully repented, but stay the hell out of Mexico when you have a major drug conviction and stay the hell out of Mexico especially when you have large amounts of cash on you and a past drug conviction or you can just about guarantee you will have no cash on you and another drug conviction!

Kat Krazy

Hey it's high time for the USA to protect our citizens in foreign countries. A Mormon mother smuggling drugs under her bus seat? Her husband didn't the $3,000 bribe money
so in jail she went. They did let her go but I believe only because she was of Mexican Ancestry. A doctor arrested in the BVI because a 9mm bullet was found in his luggage. Again pay the ransom and you will be let go.
And then there is: Order your 5 million dollar Nor-Tech yacht for 5 easy payments of 1 million each, but WAIT order today and we will arrange it so that you will only have to
make only 2 payments. The second of which will either get refunded or lost in the local Mexican government coffers.
It is time for the State Dept. to get off of their butts and not let foreign governments run fake scams on US citizens.

SinOjos

The majority of posts clearly show typical American stereotyping of Mexico, but then that can be expected from the American Population, they actually believe all the news they watch.

1. The Mexican Laws concerning accepting and moving large amounts of cash, were instigated due to pressure from the US GOVERNMENT.

Any American caught breaking a Mexican Law concerning the transport of cash, is not a victim of Mexican Law, but is simply caught up within the American Political Pressure System that has been exerted upon Latin American for the past 40 years. It was the American Government that wanted money laundering stopped.

If some stupid Gringo is so stupid as to go to Mexico to conduct business without knowing the laws, that his own country wanted, well then you just cannot get more stupid than that. Not to mention the questions he would have to answer to the US Government about bringing 950K in cash into the US.

The US Government has made it illegal to transport cash, only an idiot would go to Mexico, or any other country for that matter, and pick up a suitcase full of cash. Doing so in any country without doing the transaction legally via licensed banking procedures will get you in jail, in about any country in the world, thanks to the US GOVERNMENT.

Due to the new US reporting requirements, most banks in most countries will not take on American customers, at all. The stupid Gringo, probably did not want to pay the fee to legalize the cash, he would have had to prove were it came from, then pay a transaction fee to peso's then back to dollars for a cashiers check in dollars, then add the counting fee, that all adds up as the bank will earn a small percentage of the gross amount. He probably did not want to pay the fee's so he figured he would slip by and not only break Mexican law, but probably had no intention of notifying US Authorities, who would have been very interested in his cash as well. If he had not notified US Authorities and been caught by US Authorities, he also would have been jailed and the cash impounded. The dummy simply tried to circumvent the US Governments push to outlaw the use of cash.

All you idiots blaming Mexico, should take a look in your own backyard, that is were all the money laundering laws and corruption is coming from. The American/US Government handling of Latin America for the past 40 years, has been nothing but a big corrupt scam instigated by corrupt American Politicians.

Want to complain about money laundering laws in Latin America, talk to your US Politicians, they are the corrupt ones that have done everything they can to stop or at the very least, control capitalism in Latin America.

Bullhead

Yeah...thats it......we are the stupid corrupt ones......guess that why we have so many people crossing the border and illegally entering and living in Mexico....what a joke

Jupiter Sunsation

Thank you for your post as a local. While you bring up some good points you also fail miserably at others:

1. He did declare the cash on an earlier trip to both US and Mexican authorities
2. It is not illegal to bring cash into the United States if you declare it, it is required if you bring over 10K in cash
3. While the stereotype of Mexico may seem unfair, there seems to be a lot of bodies accumulating in the streets there. I have been to Mexico once, Cancun to be specific and honestly didn't see the need to ever return. This also brings up the point if Mexico were indeed a great place, why would so many try to leave and enter the US illegally?
4. The richest man in the world lives in Mexico (Carlos Slim) so I'm sure he has a nice place there and plenty of security but what it offers to others is less desirable.

In this case I'm not sure if the 5 yr sentence is the worst part or losing 950K in cash upfront plus the other associated legal costs or the combination of both!

Comanche3Six

Viva Zapata!

soldier4402

hard to feel sorry for the guy either way. Lets assume hes innocent because thats how the law is supposed to work. Who goes abroad with that much money in a suit case and decides to hop on and across the border. Who takes that much cash for item, Im not high roller but there is a thing called a check or wire. At minumum the guy deserves to be investigated and if that means a few days in jail until they figure it out, thats what he gets for being a numb skull.