Spanish police arrest ex-fraud chief after €20M found in walls of his house
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Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#2Why would he use physical currency? Why not a Bitcoin wallet?
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#3Why would he use physical currency? Why not a Bitcoin wallet?
So he doesn’t get arrested after €20M worth of Bitcoin is found in his Bitcoin wallet. Maybe there are better privacy preserving cryptocurrencies.
Not being tech savvy or not wanting to rely on volatile cryptocurrencies are also legitimate explanations for staying all cash. And he may very well have a few crypto wallets too.
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#4Why would he use physical currency? Why not a Bitcoin wallet?
Nontrivial to use. Still need to pass it to someone to convert fiat to crypto. Bitcoin is a public ledger, would be even easier to tie to him in some ways.
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#5Why would he use physical currency? Why not a Bitcoin wallet?
Crypto was included in the laundering schemes.
"Part of the money Sánchez Gil amassed in recent years was laundered through the purchase of crypto-currencies and a large fleet of private hire vehicles registered in the name of one of his relatives"
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#6You keep calling someone a "Fraud Chief" long enough...
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#7[deleted]
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#8Why would he use physical currency? Why not a Bitcoin wallet?
Nontrivial to use. Still need to pass it to someone to convert fiat to crypto. Bitcoin is a public ledger, would be even easier to tie to him in some ways.
Trade the entire wallet, that isn’t registered to anyone’s name? Seems easy enough to move money illicitly with crypto
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#9There has to be a personality test to see if someone is short-sighted enough to take 20 million euros in cash without any plan for how to launder it. Right?!
Seems like every single IT job is littered with personality tests these days but what about government?
Re: Spanish police arrest ex-fraud chief after €20M found in walls of his house
#10Reminds me of the ending of Street Kings.