Tool and Die shop for sale Fremont CA

[animal12]

Or some roach coach's .
animal

 

[Superbowl]

I’ve heard it a lot but not in the used machine tool industry.

A well known seller buys his goods publicly at auction, pays a premium for them, and pays with cash. Gets a receipt and invoice. Then sells those goods, again, online and publicly, makes some money and looses some money. I watch them do this a couple/few times a year. The thing is, in the nature of the business, it would be nearly impossible to line item everything to get a true accounting.

So say they spend $5k at an auction buying endmills, micrometers, misc stuff. They use “dirty” cash.

They then mix that $5k of goods into a $14k machine shop purchase. The $14k was legitimate money accounted for in the business. Voila the $14k shop and goods sells for $20k.

Seems like a lot of work to me to launder $5k. But, do it every month, and now you’ve laundered $60k in a year.

I don’t know if that’s how it works, but a company I know of has been accused of this. I see a buyer, not an employee, a couple/few times a year at auction. They pay over market, over “retail”. The buyer is not an employee. They always pay cash. The items then show up in the company sales.

It never sat right with me.

No one would make a practice of that. It would be an insane amount of work and risk to launder a small amount like. $60,000. Way easier to just pay for everything in your life with the cash.

 

[triumph406]

I’ve heard it a lot but not in the used machine tool industry.

A well known seller buys his goods publicly at auction, pays a premium for them, and pays with cash. Gets a receipt and invoice. Then sells those goods, again, online and publicly, makes some money and looses some money. I watch them do this a couple/few times a year. The thing is, in the nature of the business, it would be nearly impossible to line item everything to get a true accounting.

So say they spend $5k at an auction buying endmills, micrometers, misc stuff. They use “dirty” cash.

They then mix that $5k of goods into a $14k machine shop purchase. The $14k was legitimate money accounted for in the business. Voila the $14k shop and goods sells for $20k.

Seems like a lot of work to me to launder $5k. But, do it every month, and now you’ve laundered $60k in a year.

I don’t know if that’s how it works, but a company I know of has been accused of this. I see a buyer, not an employee, a couple/few times a year at auction. They pay over market, over “retail”. The buyer is not an employee. They always pay cash. The items then show up in the company sales.

It never sat right with me.

Reliable Tool, the auction site was thought to be laundering cartel money, according to somebody I know who worked there. Went bust owing a lot of money around the area.

I got some killer deals there while they were in business

 

[moonlight machine]

Reliable Tool, the auction site was thought to be laundering cartel money, according to somebody I know who worked there. Went bust owing a lot of money around the area.

I got some killer deals there while they were in business

Well, they screwed me.

 

[Milland]

Well, they screwed me.

T406 owes you, man...

 

[triumph406]

Well, they screwed me.

you were one of many.

Machine movers were especially hard hit from what I remember.