This DOES NOT look good for Joe. He was always great to deal with on airplane stuff, and seemed like a hell of a nice guy.

http://www.sacbee.com/2012/02/03/423600 ... cused.html

Gump

Doh. How could you not know? Tough to plead ignorance as a long time businessman.

Yup, I just checked. It says it on my ten dollar bill; "This note is legal tender for all debts, public and private". Sooooo.......accepting money for airplanes is illegal. I got a problem here.

Just kidding, of course I believe the government should control the buying and selling of stuff. I'm not stupid. After all, it's their money. Says so right there on the front of the bill.

Sure, he didnt know a thing about it. Looks like he is a handshake away from murdering women and children. If he is guilty then let him spend a few years in a cell with Sandusky.

Tim

Wow. Now I know who was buying some of those nice 182's, 206's, and Skywagons from Skywagons.com

There's a long history of law against the aiding and abetting of a crime. I suppose that's the way to read this. I think though, if you want to go after drug dealers let me handle it. I'll do it the way Macarthur handled Japanese "insurgents" after WWII. Start on the streets of LA.

I must not be getting enough rest. I'm in a bad mood this evening.

qmdv wrote:Sure, he didnt know a thing about it. Looks like he is a handshake away from murdering women and children. If he is guilty then let him spend a few years in a cell with Sandusky.

Tim

Like Eric Holder and his boss huh?

Joe probably thought the $10,000 limit was like I thought it was. Like traffic cones...... Something you 'go around' and keep moving.
The difference is the road I'm on got no 'cones'....

Why don't they have emoticons with tears?
lc

You can sell a plane to anyone you like without and ounce of liability for their actions. The problem is apparently helping launder the funds received from a source that should be suspicious to begin with.

We were actually contacted by some guy from Mexico last year, inquiring about buying one of our ultralights. As soon as the transfer of funds got too "legit" he went incommunicado. I wouldn't have balked at selling a drug smuggler a plane, as long as the transaction was legit.

You can sell a plane for cash, any amount, but the bank has to report a deposite over 10 grand. Strait up sale, no law broken. 10 deposits ten days in a row for 9,999.99 each and you are going to be in big trouble.

Tim

We bought some investment property recently and our mortgage broker said that even a history of frequent cash deposits of any amount that cannot be paper trailed easily raises suspicions. I asked her about selling vehicles, yard sales, musical instruments etc and she said it just isn't worth the hassle any more. She said though vehicles aren't too bad with a vin # and bill of sale, the rest of it you should just put the cash in a home safe and spend it at the grocery store, hardware store, going out to eat etc.

I'm just sayin' here that my nascent paranoia detects something like a slippery slope when cash raises so much suspicion of ordinary folk. My wife's grandmother passed away in 2002 and the family had a yard sale. When one of her aunts decided to replace the bag in the old woman's vacuum they found nearly $14000 in cash hidden in there. We are just positive that she wasn't dealing drugs. She was 96 years old for heaven's sake! Old folks do strange things and being paranoid kinda goes with the territory you know? They had a hell of a time at bank with it.

I wish there was a way to get the bad guys without rounding up all the good guys too. Not saying Stancil didn't know, just saying it's a shame it's come to this.

What about Fast and Furious? Oh thats run by the President and his staff so it is ok. Never mind the US citizens killed because of F&F lets get Joe!

The onus is on the business owner to report to the IRS any cash transactions greater than $10,000, including "related transactions" that total more than $10,000.

For instance, if you own a rental house and you rent it out for $835 a month, and the renter pays you in cash, you have to make a special report to the IRS, and notify the renter that you reported the transaction (usually using a copy of the report).

It is a felony for the business owner to fail to report the transaction.

Banks are also required to report to the IRS any cash deposits greater than $10,000.

I wonder if it's too late to make a campaign contribution to Ron Paul?

I wonder how high priced hookers do their banking

kevbert wrote:The onus is on the business owner to report to the IRS any cash transactions greater than $10,000, including "related transactions" that total more than $10,000.

For instance, if you own a rental house and you rent it out for $835 a month, and the renter pays you in cash, you have to make a special report to the IRS, and notify the renter that you reported the transaction (usually using a copy of the report).

It is a felony for the business owner to fail to report the transaction.

Banks are also required to report to the IRS any cash deposits greater than $10,000.

I wonder if it's too late to make a campaign contribution to Ron Paul?

That's it. That's what I'm talking about. When they first used IRS and FBI to take down Capone it seemed like a pretty good idea. I'm not so sure now. I think we've lost the war on drugs. Time to look at other ways to cope with the cultural impact. As far as high priced hookers, that's a good question. I dunno, maybe we should ask Al Gore. Seems he paid with credit cards.

Knowing Joe Stancil and his salesman for some 20 + years. I find it hard to believe he was somehow involved in anything at all even shady.He's a straight up bossiness man .Having bought and sold airplanes with Stancil Aviation I believe there's some entrapment here . A lot of transactions do less than 10K to avoid the IRS.

It will be interesting to see this one play out, pretty sure Joe is smarter than that.

I visited there 3 years ago, the second time within the last 7 years of looking at their aircraft for sale and walking/running away. Anyhow, at the time, the turbo 206's were going out of there like hotcakes. Gold Chain Dan said that all the S of the border sales were promptly reported to DEA as soon as the ferry pilot left with it.

Pretty hard to hide something like that, I hope it comes up legit.

58Skylane wrote:I wonder how high priced hookers do their banking

Can Gump help out here.

Tim

qmdv wrote:

58Skylane wrote:I wonder how high priced hookers do their banking

Can Gump help out here.

Tim

Forget it Gump, he asked about the high priced spread.

Tim

I hate to be the lone wolf here but I was not surprised when I heard this.