Skip to content

Compliance Building

Doug Cornelius on compliance for private equity real estate

Menu
  • Home
  • About
    • About
    • About Doug
    • About This Website
    • Why I Blog
    • Speaking Engagements
    • Contact
    • Publications
  • Archives
    • Topic Archive
    • Book Reviews
    • Most Popular
  • Subscribe
  • Disclaimers
    • Disclaimers
    • Policies and Procedures
    • Use of Site Content
    • Comments
    • FTC Disclosure
Menu

Real Money Laundering

Posted on October 28, 2008 by Doug Cornelius
Print Friendly, PDF & Email

The October 2008 edition (.pdf) of The SAR Activity Review, Trends, Tips and Issues published by the Financial Crimes Enforcement Network, has a great story on page 29 about a marijuana smuggling and money laundering operation.

The organization was concerned that the cash smelled like marijuana. The benk tellers even noticed the smell of marijuana on the money. The organization ended up washing and ironing the cash to remove the smell.

Too late. The teller filed a Suspicious Activity Report on the marijuana money which then focused law enforcement on subsequent deposits. Law enforcement had previously been keeping an eye on individuals in the organization.  Over the course of the investigation, they tracked more than 1,000 kilograms of marijuana that the organization distributed into the local market.

Dirty money lead to 30 jail sentence for the leader of the organization.

Share this:

  • Print (Opens in new window) Print
  • Share on Facebook (Opens in new window) Facebook
  • Share on LinkedIn (Opens in new window) LinkedIn
  • Share on X (Opens in new window) X
  • Email a link to a friend (Opens in new window) Email

Leave a ReplyCancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search for Stuff

Recent Stories

  • Extending Compliance Dates for Form PF
  • The Massive Scope of Digital Asset Investment Scams
  • SEC Proposes Rescission of Political Contribution Rule for Investment Advisers
  • Is Failure to Disclose Misappropriation Committing Securities Fraud?
  • SEC Sweep of Fake Form ADV Filers
  • New Custody Rule Is On Its Way
  • Can a Farm of Hardwood and Citrus Trees be a Security?
  • The Corporate Transparency Act is Finally Dead
  • The SEC 2026 Rulemaking Agenda
  • The Alignment Gap: Rethinking Costs in Private Equity Fund Formation

Fight Cancer

Please support my Pan-Mass Challenge
Make a donation to fight cancer. donate.pmc.org/DC0176
pan-mass challenge badge

I am a lawyer, but I am not your lawyer. Since I’m a lawyer, this website may be considered attorney advertising under the ethical rules of certain jurisdictions. Please read my disclaimers page before taking any action. And then, don't take any action based on what I wrote.

Creative Commons logo with the text 'Some Rights Reserved' and three symbols representing attribution, non-commercial use, and share alike.

Compliance Building - by Doug Cornelius is licensed under a Creative Commons Attribution-Noncommercial 3.0 United States License.

© 2026 Compliance Building | Powered by Superbs Personal Blog theme