Rush & Money Laundering? What did

[jrthin]

miss?

[brainshrub]

1. Nothing.

It was a dead-ender. Doesn't have legs.

[southerngirlwriter]

5. Luckily for us, my right-wing mother....

.....has a subscription to Rush's web site. Here are his exact words. (I avoid the site like the plague, but I have access to the subscriber side, so if you want any of the super-secret stuff on that side, I'm willing to put on an asbestos suit and go look.)

BEGIN TRANSCRIPT 12:05 PM ET

RUSH: There is something I can respond to that happened on ABC News last night. Now, I know where this is coming from. I can't tell you that. But I can tell you that I understand exactly what's going on, and if you put your thinking caps on, you might, too.

The story on ABC News, World News Tonight last night was that there is a money laundering investigation of me that is underway. Let me say here at the top of the program, ladies and gentlemen, that I have never, I have not laundered any money. I want to give you the truth of the story that was sketchily passed on last night, and as I say I know where it came from, I know who's behind it, and I know what its intent is, and you must understand, and I've been saying this since the Friday before I left, a lot of things that people think they know that are not true, think they know that they don't know, and the time will come soon where all this can be explained but for now I have to hold it in check. But I can address this money laundering business that ABC ran last night and a couple of New York newspapers have picked up.
A few years ago, when I moved to New York, I went to CitiBank, the first place I went, and they had a so-called private banking area, and we were on 54th and 6th, the old ABC building, and this thing was right around the corner. The private banking area had a line every time I went to it, and so I did that, I went for a while, that's how my banking experience everywhere else was, there was a line, and the super-secret special whatever section of the bank only had three tellers and everybody else had nine or ten, so the place that was supposedly special had three tellers, the other place that wasn't special had ten. I went in line and as I lived in New York I met some people and I said, you start talking life and things and they said, well, you need to go to U.S. Trust and they set me up a meeting at U.S. Trust. I was referred to that bank, and when I met with them, they made a pitch to me about their services. They pitched all their services that they provide in the wealth management in the private banking division. In the course of their meeting with me they explained that I would never have to stand in line again, if I needed cash, they'd bring it to me. They had somebody bonded that would bring it to the office and I did that two or three times, two or three times when I couldn't get to the bank myself, I had somebody bring it over, signed the paper when they came and they left. It didn't happen every time I got cash.

It happened, I don't know, two or three, four or five, whatever, it wasn't very many, it's being reported in the paper it was every time I got cash somebody from the bank snuck over under the cover of darkness to my building, and made the transaction. It was nothing at all like that. It was a convenience that they offered to all of their customers. It's not a traditional bank in that sense. And at this time when they were pitching their services to me, they told me that when I was going to withdraw cash, keep it under $10,000 so they wouldn't have to report anything to the government. There was a $10,000 reporting requirement and they said if you keep it under that, then nobody has to file any paperwork and so forth and so on, meaning them at the bank, and so that's what I did. Any time I got cash from the bank, I made sure it was less than $10,000. I opened up some accounts, and the account that I have is the account that I receive the money that I am owed for the work I do here in the EIB Network. It's the account that I paid bills out of. It's just like yours or anybody else's.
The cash in question here, most of it had to do with the two-and-a-half-year remodel we did for the home in Palm Beach. In fact, most of the money was not even withdrawn here in New York. I don't live in New York. And throughout most of this period that's in question, I have not lived in New York. So just one of the many areas, the money was for travel, it was for food, it was for gratuities, as I was out and about and playing a lot of golf tournaments as you know building the house. I think the total amount of money they're talking about here comes to about $300,000 over five or six years. It's a lot of money, but given the amount of money I earn and so forth, it's pretty much in proportion with, you know, what anybody else earns in terms of the percentage of walking-around money and cash that they use for things.

EDITED BY ADMIN: COPYRIGHT

[dreissig]

2. Reporting Requirement

There's some kind of paperwork involved when you handle cash in amounts greater than $10,000. Rush made sure his drug purchases were in amounts of $9,990. This does not get him off the hook, because the law takes this kind of shenanigans into account.

Rush is more than a drug abuser, he's an actual criminal. He should be telling his story to a judge, not just to his listeners.

[caledesi]

3. So what was Rush using to pay for the drugs? Credit card? Personal Check

Money Order? I dont' think so!

[Ilsa]

4. The bank could be in trouble for revealing that to him.

They are not supposed to tell customers how to help them "get around reporting requirements", if I remember the seminar correctly from years ago. Rush knew it was wrong, and restructuring transactions to avoid coming into view is illegal.

Also, if there was any reason why Rush might know if the maid-supplier was avoiding paying taxes on her share, or if the funds were to be used for illegal purposes, I think they could use that against him as well. If they will. This was what I heard yesterday.

But my guess is that favors will be called in and he'll away with paying a small fine and it will be swept under the rug in favor of the M Jackson story.