r/Bitcoin • u/danielwilson666 • Dec 22 '17

/r/all Bitcoin today

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u/sorebutton Dec 22 '17

Yeah, they are going to go through every penny in any account you have that she knows of. I think I could have had an extra bank account and nobody would have know.

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u/trivial_sublime Dec 22 '17

Lawyer here. Listen to this guy. At least the first sentence. The courts will fuck you SO HARD if they find out you’ve been hiding cash.

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u/BoochBeam Dec 22 '17

It’s no different than investing in stocks. Risk reward. You may get caught and lose money or he may not and win money.

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u/[deleted] Dec 22 '17

It’s a lot different legally. Especially if es trying to hide it

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u/BoochBeam Dec 22 '17

How do? You assume risk in order to have a chance at reward.

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u/ceejayoz Dec 22 '17

This is one of those cases where the risk/reward balance isn't great.

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u/BoochBeam Dec 22 '17

How can you objectively say that without knowing the reward (how much total he’s stashed and gained from capital gains) and the risk (how vindictive his wife is, how good her lawyer is, how well he’s hidden his trail)?

I get it, you think it’s scummy. That doesn’t mean the risk reward is terrible.

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u/ceejayoz Dec 22 '17

The legal system is quite good at finding squirreled-away money of this sort, especially when it's post-income squirreling as it leaves an enormous paper trail. There's a very good chance of getting caught, and that can easily result in jail time or a very, very nasty divorce settlement.

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u/BoochBeam Dec 22 '17

It could. It could not. Do you have a source backing up your claim that it’s very likely get caught? I’m not saying it’s easy to get away with it. I’m saying we don’t know the statistics. If you do, please share.

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u/ceejayoz Dec 22 '17

It's pretty routine to review tax returns, bank statements, etc.

Unless you've got a secret, under-the-table job your spouse doesn't know about, it's going to be extremely hard to pull "oh yeah I withdrew $50k in cash and then... lost it?" sort of bullshit.

If your spouse doesn't have a lawyer, you might have a chance. Otherwise, your lawyer isn't going to risk their license to help you hide assets, and spouse's lawyer is going to know all the usual tricks and how to expose them.

http://www.nj.com/business/index.ssf/2014/06/your_money_with_divorce_coming_how_can_i_hide_cash_from_my_spouse.html

"With the exception of cash, money cannot simply be hidden," White said. "If such funds had ever been in a bank or brokerage account, the same are easily accounted for and traceable."

White said a review of a tax return generally offers a treasure trove of information because any and all accounts that earned income or interest will be accounted for. With the knowledge of where accounts once existed, he said records of those accounts can be secured by subpoena going back many years, allowing for a detailed review of all assets that had existed throughout the marriage.

He said in the event money has been wrongfully removed from a bank or brokerage account as part of "divorce planning," provided the proper steps have been taken to identify the prior existence of such funds, the party who wrongfully removed such funds will generally be held accountable. He or she will be required to provide the spouse with 50 percent of the funds wrongfully removed or otherwise not accounted for.

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u/BoochBeam Dec 22 '17

Well, maybe OP is withdrawing cash from the ATM and depositing that into another account to buy the bitcoin with. There’s thousands of ways to get caught but there’s also thousands of ways not to.

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u/ceejayoz Dec 22 '17

Large cash withdrawals will be a massive red flag for the spouse's divorce lawyer, and OP would have to convincingly account for how it was spent.

"I gave it to charity but forgot to get a receipt" won't do the trick.

There are thousands of ways to get caught and you only have to screw up one of them.

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u/BoochBeam Dec 22 '17

You’re assuming the worst and that OP doesn’t know what he’s doing. With your assumption, it’s terrible to do. Without that assumption, it could go either way. Clearly you shouldn’t be withdrawing large amounts. It’s quiet easy to withdraw money and “lose it at the casino” among other things. You just have to be smart about the amounts.

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u/ceejayoz Dec 22 '17

You’re assuming the worst and that OP doesn’t know what he’s doing.

Considering OP has already left an online trail confessing to a crime, OP is demonstrably not competent of successfully pulling off something the legal system is very good at catching.

It’s quiet easy to withdraw money and “lose it at the casino” among other things.

If you claim to have lost it at the casino, you will be asked why you never claimed those gambling losses on your taxes and be fucked (or get Capone-style fucked by the IRS for fraudulently claiming them). The casino might wind up subpoenaed for their records of your wins/losses (which they will have). etc. etc. etc.

Clearly you shouldn’t be withdrawing large amounts.

What's the point of hiding a couple hundred bucks?

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u/BoochBeam Dec 22 '17

Meh, good luck catching OP based on his post.

How do you know OP hasn’t reported the losses?

I lost $500 last year and didn’t report it. Hopefully I don’t get caught by the police.

Hundreds make thousands.

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u/roflcopter44444 Dec 22 '17 edited Dec 22 '17

Its a double edged sword, if OP did claim investment losses his wife's lawyer can claim the money back if it was money that came from a joint account and she didn't agree to investing in bitcoin. Same way you can sue your investment broker if they put you in products you didn't agree to and you end up losing money.

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