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CONFESSIONS OF A
MONEY LAUNDERER by Kenneth Rijock
MONEY LAUNDERER by Kenneth Rijock
Financial Crime Consultant, for World-Check
Confessions of a Money Launderer - Part 63
4 May 2008
My personal view on money laundering: if you're not part of the solution, you're part of the problem. To be truly rehabilitated, a former money launderer must not only keep his or her nose clean, but also be pro-active, and take the battle to your new enemy. That's why I agreed to work in a undercover capacity, to masquerade as a practising laundryman, on behalf of law enforcement. And why not, since I had the skills, put them to use in a positive manner. Here's how it happened.
One of my friends you will remember from the previous chapter, (he's the one with the bullet wound scar across his neck) had interceded to help out an acquaintance who was being threatened by an unusual type of criminal gang:
Notwithstanding that he had been saved from being fleeced by these bloodsuckers, the grower failed to repay my friend a monetary debt he owed. You do not do that to a reformed former criminal. When the target's hydroponic home in the Carolinas was raided by US law enforcement, and the target arrested, he went back to my friend for help, after he bonded out. This arrangant ingrate added insult to injury, from my friend's viewpoint, by asking for more help. He decided to give the grower his just desserts.
Beating the bad guy, and recovering some cash for the US. Not a bad day's work for an ex-criminal. Just like old days, but this time I was on the right side.
Next week: more pro-active moves.
- As the logical result of Miami's drug madness, there were a large number of "entrepreneurs" making huge sums in the narcotics trade. There came upon the scene a particularly malevolent type of organisation, one that fed upon this illicit success by making drug traffickers themselves crime victims.
- This type of crinminal hustler preyed regularly upon successful operators of marijuana hydroponic "grow houses," where strong strains of pot were farmed, generally within an unoccupied private home modified to accommodate hundreds of maturing marijuana plants.
- The evil plan these crafty individuals executed involved kidnapping, extortion and even torture, to capture and force wealthy marijuana growers (who generally were unarmed) to reveal the location of their illicit cash.
- Often the grower would be held until his partners or family could ransom him through the payment of a large amount of cash, generally approximating what the kidnappers believed the 'victim" was worth.
- My friend had literally prevented such a grower from suffering such a fate, ingeniously negotiating directly with the hustlers, and persuading them that their target was broke, and gone from in the immediate area. He thus saved this grower from becoming a "crime victim."
Notwithstanding that he had been saved from being fleeced by these bloodsuckers, the grower failed to repay my friend a monetary debt he owed. You do not do that to a reformed former criminal. When the target's hydroponic home in the Carolinas was raided by US law enforcement, and the target arrested, he went back to my friend for help, after he bonded out. This arrangant ingrate added insult to injury, from my friend's viewpoint, by asking for more help. He decided to give the grower his just desserts.
- When the target asked my friend for someone to help him laundering money offshore, he asked me to contact law enforcement, and asked me to pose as a money launderer for the agency, to sting the individual when he delivered cash, thinking me a fellow criminal.
- the grower also asked my friend to transfer title to the corporation that owned his boat, which has been secured by law enforcement after the grower's arrest. This way, the grower could sell his boat to a bona fide purchaser, who might just take good title right from under the hands of lawe enforcement. I alerted the agents to this technique.
- Anyway, I was set up as a money launderer who would move the grower's cash offshore; he would then sneak out of the US, preferably to a Caribbbean country where there was no extraditrion treaty to the US, his illicit fortune intact and out of US control.
- The law enforcement agency wired me up for sound with a concealed microphone & transmitter, and I met up with the grower in Miami, in the presence of my friend who had convinced our target that I could do anything with flight capital in the tax havens.
- I made sure that the target fully and completely incriminated himself at our meeting, and set up a delivery of $50,000 in cash, to cover the formation of offshore companies, and the creation of accounts in a bank secrecy jurisdiction. The balance of the money would be deliveed to me later for offshore placement.
- The target later privately told my friend that, should anything untoward happen to his money, to kill me. He had no clue we were doing this thing together. Didn't he know that there is no honor amongst thieves? Especially when you cross one.
- The target delivered the money to my friend at the nearby Ft. Launderdale airport, and law enforcement swooped in and arrested him. His bail was revoked, and he later went to prison for the marijuana offence, as well as his attempt to launder his criminal profits.
Beating the bad guy, and recovering some cash for the US. Not a bad day's work for an ex-criminal. Just like old days, but this time I was on the right side.
Next week: more pro-active moves.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
Read more in this exciting series
8 March 2010
8 February 2010
24 January 2010
6 December 2009
27 September 2009
9 August 2009
3 August 2009
30 March 2009
9 March 2009
2 March 2009
22 February 2009
18 February 2009
26 January 2009
18 January 2009
11 January 2009
5 January 2009
29 November 2008
24 November 2008
17 November 2008
8 November 2008
3 November 2008
27 October 2008
20 October 2008
13 October 2008
4 October 2008
28 September 2008
20 September 2008
15 September 2008
15 June 2008
8 June 2008
1 June 2008
26 May 2008
19 May 2008
12 May 2008
4 May 2008
27 April 2008
20 April 2008
13 April 2008
31 March 2008
18 March 2008
4 March 2008
25 February 2008
16 February 2008
10 February 2008
3 February 2008
27 January 2008
20 January 2008
14 January 2008
6 January 2008
16 December 2007
9 December 2007
1 December 2007
25 November 2007
18 November 2007
11 November 2007
3 November 2007
27 October 2007
21 October 2007
14 October 2007
7 October 2007
1 October 2007
23 September 2007
16 September 2007
3 June 2007
27 May 2007
21 May 2007
6 May 2007
30 April 2007
22 April 2007
15 April 2007
8 April 2007
2 April 2007
24 March 2007
19 March 2007
12 March 2007
5 March 2007
25 February 2007
19 February 2007
12 February 2007
4 February 2007
28 January 2007
22 January 2007
15 January 2007
7 January 2007
2 January 2007
16 December 2006
10 December 2006
3 December 2006
27 November 2006
19 November 2006
11 November 2006
5 November 2006
29 October 2006
22 October 2006
16 October 2006
9 October 2006
2 October 2006
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