A true beneficial owner may try to hide his / her assets by smuggling cash across a country’s border, into another jurisdiction.  My July 27th article, “A Yola, A Police Sergeant & A Restauranteur“, mentioned the issue of smuggled cash.  “Smuggling Cash Across Iraq’s Border” and “Offshore Bank Accounts In Liechtenstein“, also raised this issue.

According to a July 21, 2009 press release, nearly $100,000 was recently seized as it was allegedly smuggled in a box of laundry detergent at a Laredo, Texas port of entry.  This too essentially happened on March 1, 2009 in Hldalgo, Texas, when a box of laundry detergent and a spare tire were reportedly used in an attempt to smuggle $561,132.00.


Copyright 2009 Fred L. Abrams