Quote:
Originally Posted by Maritime Q-Scout
ok I want to be sure I understand things properly (I'm not questioning anyone's arguments, I want to be certain I'm understanding things correctly).
I'm assuming from the article that if you get a big payout in a United States casino (or even small one) you get a reciept of the winnings. I'm also assuming this is done for tax purposes.
I'm assuming that he was heading back to Canada at some point with his winnings.
I'm also assuming that he would have to declare his winnings when crossing the boarder, thus needing the proper paperwork to do so.
I'm assuming that if he didn't have the proper paperwork, or got searched for not declaring the money he'd be fata'd by the long hard dip of the law.
IF all my assumptions are true, wouldn't he just have had to show the officer his reciepts and all's well?
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I can't say what the process is in the US, but in Canada if somebody cashes in more that $10K, there's a bunch of forms that have to be filled out, and receipts given. The reason for this is to scrutiinze for money laundering ... pimps and dealers like to use casinos to launder money. I've been the general manager at charity casinos in Calgary on two occasions, and this is one of the things our casino advisor drilled into us. I believe you even have to go through a scrutiny/papework process if depositing or withdrawing over $10K in cash from your own personal bank account ... I could be wrong about that though. Any bankers out there who can back that up, or debunk it?
At any rate, I doubt US casinos are any less vigilant about large payouts than Canadian casinos, so it doesn't wash that the guy would have a quarter million in casino winnings, but no receipts or other paper work to support it.