quote:The tale is told of how Al Capone used laundromats as a front to recycle dirty money earned through a panoply of nefarious activities. Hence, it is said, the term "money laundering" was born.
posted
I know Al Capone was a fairly large gentleman and possibly disposed to excessive sweatiness, and it can get quite hot in Chicago, but how much laundry was he getting through each week?
-------------------- "Ladies and gentlemen, this is what is commonly known as money. It comes in all sizes, colours, and denominations - like people." Posts: 997 | From: Maidstone, UK | Registered: Jun 2006
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posted
Speaking of money laundering apparently when the dye packs were first introduced by banks a group of bank robbers got caught by them but not in the typical fashion. They were caught because people noticed them putting loads of pink colored cash into the machines at a public laundromat days after the robbery.
Seems the dye pack exploded and instead of throwing away the tainted cash they tried to literaly launder it to get rid of the dye job.
Posts: 320 | From: Birmingham, Alabama | Registered: Jul 2006
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quote:Speaking of money laundering apparently when the dye packs were first introduced by banks a group of bank robbers got caught by them but not in the typical fashion. They were caught because people noticed them putting loads of pink colored cash into the machines at a public laundromat days after the robbery.
How are bank robbers typically caught through the use of dye packs if not by their being spotted in possession of dye-stained money?
According to Wikipedia, the Al Capone laundromat story is an urban legend:
quote:The term of "money laundering" itself does not derive, as is often said, from the story that Al Capone used laundromats to hide ill-gotten gains. It was Meyer Lansky that perfected money laundering's older brother, "capital flight", transferring his funds to Switzerland and other offshore places. The first reference to the term "money laundering" itself actually appears during the Watergate scandal. US President Richard Nixon's "Committee to Re-Elect The President" moved illegal campaign contributions to Mexico, then brought the money back through a company in Miami. It was Britain's Guardian newspaper that coined the term, referring to the process as "laundering." [2]
Ta ra 'wan,
Ieuan "sock laundering" ab Arthur
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Y Gwir Yn Erbyn Y Byd Posts: 626 | From: Toronto, Ontario | Registered: Oct 2005
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posted
The Online Etymology Dictionary also states that "money laundering" only came into popular use around the time of Watergate, though it does also say that the first recorded use was in 1961.
-------------------- "You learn something new every day if you're not careful" - Wilf Lunn Posts: 893 | From: Durham City, England | Registered: Aug 2005
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Alex Buchet
I'll Be Home for After Christmas Sales
posted
Did laundromats exist in Capone's time?
Posts: 202 | From: Paris, France | Registered: Feb 2006
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quote:Speaking of money laundering apparently when the dye packs were first introduced by banks a group of bank robbers got caught by them but not in the typical fashion. They were caught because people noticed them putting loads of pink colored cash into the machines at a public laundromat days after the robbery.
How are bank robbers typically caught through the use of dye packs if not by their being spotted in possession of dye-stained money?
- snopes
Possession of dye-stained hands or faces maybe?
-------------------- IIRC, it wasn't the shoe bomber's loud prayers that sparked the takedown by the other passengers; it was that he was trying to light his shoe on fire. Very, very different. Canuckistan Posts: 3694 | From: Arizona | Registered: Aug 2005
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posted
Simple it explodes when they are trying to get away. That boom causes them to halt in their tracks add in the cloud of dye blocking out their vision.
Aren't their police videos of dye packs exploding in confined areas such as cars? Those suckers make a big bang.
Posts: 320 | From: Birmingham, Alabama | Registered: Jul 2006
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quote:Simple it explodes when they are trying to get away. That boom causes them to halt in their tracks add in the cloud of dye blocking out their vision.
Except for our gang of uber-robbers, who were unfazed by the explosion and cloud of dye sufficently to make it to the local laundromat.
-------------------- "Ladies and gentlemen, this is what is commonly known as money. It comes in all sizes, colours, and denominations - like people." Posts: 997 | From: Maidstone, UK | Registered: Jun 2006
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quote:Simple it explodes when they are trying to get away. That boom causes them to halt in their tracks add in the cloud of dye blocking out their vision.
Except for our gang of uber-robbers, who were unfazed by the explosion and cloud of dye sufficently to make it to the local laundromat.
I suggest you look into how dye packs work. They don't always explode as planned.
Posts: 320 | From: Birmingham, Alabama | Registered: Jul 2006
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Richard W
Ding Dong! Merrily on High Definition TV
quote:When the dye pack explodes, it releases an aerosol of red smoke, red dye (1-methylamino-anthraquinone) and, in some cases, tear gas. When these chemical reactions take place, the package burns at a temperature of about 400 degrees Fahrenheit (204 degrees Celsius), discouraging any attempts to remove the device from the bag. (Further details of the chemical activation are "classified.") Typically, the explosion of the dye pack compels the thief to throw the bag, so the bank gets its money back. In addition, the red dye frequently stains the thief's clothes and/or hands, making identification of the suspect quite easy.
Bloody hell, tootiredtocare appears to be right! It had to happen eventually, I suppose.
Posts: 8725 | From: Ipswich - the UK's 9th Best Place to Sleep! | Registered: Feb 2000
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