Police stop rapper Blac Youngsta outside of Atlanta bank, take $100,000 from him

a reply to: MagnaCarta2015

You maybe into something here, as I search the article and keeps changing, now it says he was mistaken for a bank robber.

originally posted by: marg6043
a reply to: Bedlam

This was the local police.

They've been instructed to do so by the DOJ. This year, actually.

originally posted by: Grimpachi

Fine it should be flagged I know that's the law, but why throw the person down at gunpoint and confiscate his money?

Those cop margarita machines and sports cars aren't going to buy themselves, you know.

The American citizen had every right to take out as much money as he so chooses. The bank branch was also acting within the law by reporting the large cash withdrawal. The only party here who was out of line were the police, who thought it would be an easy opportunity to steal from a "black thug gangster rapper guy" hoping they could just spin a drug dealer stereotype on him.

Of course the man is a financial idiot for even bothering to pay 200k for an automobile that does not serve to generate money for him. Still his right to do with what he pleases. Dealers dont always have to take plastic. In fact most dealers will absolutely take cash so long as you fill out the proper paperwork. There has been laws in place that a business is required to have you fill out paperwork when paying with a certain amount of cash, since the patriot act.

Many auto dealers would gladly take the cash though and even provide a discount. Many dealers here were taking cash payments when the identity fraud tax schemes were at the peak, knowing these idiots were just burning their illegal money away. Of course, some of these same dealers also went to prison because they were knowingly involved in helping local fraudsters launder that money.

originally posted by: Bluntone22
He had to give the bank at least 24 hrs before withdrawing that much cash. Probably more time than that. They don't keep that much money in the vault just laying around.
Also anything over $5k is reported to the govt as suspicious activity.

Some banks do, some don't. They can report based on federal guidelines. But it seems they called the police. That is scary.

originally posted by: MALBOSIA
I cant even withdraw 5k cash from my bank without calling it in a day prior. If I make a scene and yell "give me my money!!" They will usually bring a manager to release it. Banks dont seem to like giving up the cash. I think it messes with their fractional reserves or something.

Did the manager get pissed that he/she was out the deposit?

Banks are sleezy. Wells Fargo... probably the sleeziest.

True. I had an accident settlement about 10 years ago. I didn't want to put the money in my own bank, right off the bat. Just my own decision. The check was written on a bank that has a branch in another city, about 45 minutes away. I went with my attorney.

This was JP Morgan Chase., They hold my mortgage, so I felt it would be easyish. The amount was about $14,000. I brought about 6 pieces of ID with me.

The downtown, main branch, absolutely refused, stating I would need an account there. I said NO, I don't need an account to cash a check written on an account in your bank. They didn't state they needed advance notice, just refused.

We drove to a smaller location about 15 minutes away. I talked to a manager and described what happened. He cashed the check. No problem and he apologized.


Thinking back, I noticed differences in the 2 locations.

My attorney is black and he was in a nice suit, I was dressed casually. The manager at the main branch was white.

At the smaller location, the bank Manager was black.

Did this make a difference? I don't know.

originally posted by: AmericanRealist
The American citizen had every right to take out as much money as he so chooses. The bank branch was also acting within the law by reporting the large cash withdrawal. The only party here who was out of line were the police, who thought it would be an easy opportunity to steal from a "black thug gangster rapper guy" hoping they could just spin a drug dealer stereotype on him.

Of course the man is a financial idiot for even bothering to pay 200k for an automobile that does not serve to generate money for him. Still his right to do with what he pleases. Dealers dont always have to take plastic. In fact most dealers will absolutely take cash so long as you fill out the proper paperwork. There has been laws in place that a business is required to have you fill out paperwork when paying with a certain amount of cash, since the patriot act.

Many auto dealers would gladly take the cash though and even provide a discount. Many dealers here were taking cash payments when the identity fraud tax schemes were at the peak, knowing these idiots were just burning their illegal money away. Of course, some of these same dealers also went to prison because they were knowingly involved in helping local fraudsters launder that money.

Mercedes Maybachs are absolutely a good investment. At that price I would imagine it was modded to the hilt. You can have large fish tanks installed in them. If kept well, they normally re sell for much more than you paid.

I used to be a skip tracer picking up lots of Maybachs...I was given the high profile and celeb accounts. I picked up 7 of them form one mafia family--the kids had used dad's credit to get them. Dad was in Florida, kids were in NJ killing his credit. I got Mercedes to let 'dad' keep his little Mercedes coupe with no further payments if all the other ones were repo'd. I got all of them. Dad got to keep his coupe. Names have not been mentioned to protect the innocent-- including ME. lol

a reply to: ketsuko

It's absolutely reprehensible, but the laws were written to make anyone who move cash in these amounts suspects.

Yet it is ok for the banks to do it.

That's right, the banks are above the laws of our land. They made themselves special and privilege. The greedy share holders don't like it when people remove money out of their privatized banks.

Suspicious activity, really? The Bank knew who the Rapper was. It was the bank that called the police, to set an example.

I believe the banks all know about forfeitures laws and was hoping the police would take the Rappers money.

Like one poster wrote in this thread, the Bank had to be notified 24 hours in advance and I am sure the Rapper told the bank why he was withdrawing this money.

What the Bank did was wrong. The Rapper may have a good law suit against the bank.

a reply to: infolurker

He would most likely have had to order the cash as banks don't keep that kind of currency on hand due to security reasons, Wells Fargo for sure would have made him order it. Whoever he ordered the cash from most likely filed a SAR (suspicious activity report) that alerted authorities.

Who buys a car like that with cash anyways? So he's got lots of money, big whoop, use a stinkin cashiers check and you're off the radar.

But regardless, it's his money, he can have that kind of cash on him. Wonder who the lady was that told him he couldn't. The whole situation is ridiculous.

Stop using the banks and go back to keeping your cash in your mattress and praying your house doesn't burn down.

a reply to: Bluntone22

As someone who worked for a Armored Truck Company banks keep more than 200 thousand in their vaults daily. I would routinely bring 800 thousand to normal neighborhood bank branches at least once a week and pick up 1.5 million from the same bank so yes they do keep large amounts in the vault especially around pay day.

As for money forfeitures, it does happen all too often and much more now that our local police departments use forfeitures to balance their budgets. Its a shame that someone who works hard for their money can't make a withdrawal without attracting the attention of a local police department who are intent on just taking the money even though no crime was committed.

a reply to: infolurker

Well, Wells Fargo just lost all Rappers and Boxer's Bank account Biz........

originally posted by: Bedlam
a reply to: marg6043

The manager has to report any withdrawal 10K or more. I think.

Well certainly, the rapper must have called ahead to arrange for this much cash. My bank has given me the "Ahm, did you call ahead on this?" and "I'm not sure we have that much cash on hand" routine when I tried to pull out $12,000 one day.

If the bank was aware of this need for a $200K withdrawal, there should have been little confusion in this matter. They file the forms necessary to et the gov't know a >10K transaction was made and to whom and that should be the end of story. I would sue my soon to be ex-bank if I were him.

originally posted by: MagnaCarta2015
Stupid publicity stunt by an Internet nobody to look like he's balling.

Look at the instagram photo of him on the ground, the cuffs are clearly open.

Why would the police only seize 100k instead of all of it?

Why pull out 200k in cash to buy a car? Pretty sure most dealerships take plastic.

The cash doesn't even look real.

dealers will NOT sell you a car on plastic (credit cards stand up for customers who but 'defective merchandise' and they can get a charge reversed).

If you were a car salesman, would you believe that young man?
Would you believe him if he walked in with cash?

a reply to: reldra

In a secret new building in New Jersey, high-speed computers decide which stocks to buy and sell. Could this kind of automated "trading floor" lead to Wall Street's next "flash crash"?

This computer crashed last year almost cost me a bundle on a short sale, that was a deliberate takedown to prevent a "flash crash"?

It figures Wells Fargo they are the ones Green Bay uses to pay the refs in the parking lots after games.

a reply to: peppycat

Yes I would be pulling every penny out, followed by a giant F.U., your better off keeping it under your mattress these days.
Bunch of cockroaches.

Can see the full uncropped pic here
www.missopen.com...

Anybody still think this is legit?

Watch out, because it is widely considered to be a "crime" (or at least suspicious activity) to withdraw or even have too much cash on you at one time, even if it is being used for legal purposes. There have been examples of cash being confiscated from people who have been pulled over because they had too much of it on them at once. The police use the excuse of it being used for drugs, most of the time - but if your cash gets locked up in evidence, you might not see it back.

Just my sixpenneth here but why the f... would you have that amount of cash on you anywhere in the world these days. I have great difficulty in believing that a car dealer who sells cars worth over a 100k can only deal in cash. Debit card and pin number I think.