Why the fuk r those shoes so expensive... wtf
Sneaker market has gone nuts

I hope he said, "Keep the change."

Be Kind, be calm, and Stay Fresh!

smart move when you think about it, he was running to the US buys the shoes takes them across the border and then sells them so there is no way to track the money.

^ Exactly, just burning cash so he doesn’t have to declare or risk it being confiscated at the border

^Plus he still gets to flaunt it on IG.

Although you'd think the cbp would still be a little suspicious of brand new shoes in box with receipt and probably some certificate of authenticity.

Waiting for those Dior J's to show up at a police auction.

I thought he ran across the border, didn't actually legally cross it

Our financial regulatory system is so odd, and is literally built to be circumvented.

A transaction over $10,000 within a bank must be reported to FINTRAC, yet a purchase above that amount in cash to a dealership, luxury store, jeweler, and so forth has zero requirements.

I find it odd our government has ignored this loophole for so long now.

Hold up, if this is true, isn't this posssible?

Customer with cash walks into watch store #1, buys a $50K watch in cash.

WS#1 now holds $50K cash, Customer now basically has a "promissory note" for $50K, as some of us know, some watches hold or increase in value.

So now Customer goes into WS#2 and sells his watch, maybe for $47K, lets call it the cost of doing business.

In this instance lets pretend WS#1 and WS#2 are the same store, but different branches.

So WS#1 has the $50,000 in cash from customer, "buys" their own product back via WS#2 for $47,000 with the same cash taken in at WS#1.

Now on paper, WS#1 & WS#2 both did a perfectly legal transaction in the eyes of the government.

So the customer walks away with $47,000 of "Clean money"???

As you can easily just say "My father/grandfather left me that watch"?

Someone please tell me it isn't that easy.

This is also false

they closed the loophole with paying cash for a vehicle years ago.

It isn't, FinTRAC confirmed themselves it isn't. It's in the damn article.

In theory, yes, but I would think when WS#1/#2 goes to deposit that money in a bank, they'll have to provide details - especially if it's a business. Mon and pops aren't depositing 50K at once, and generally large amounts like that are for a couple high $ items so not hard to disclose.

So somthing going on right now in the indoor growing community is 100% money laundering/fraud

There are grow Facebook groups where there are these presumably, fake profiles almost all of a similar looking Asian woman. These reps are contacting people directly to “test” their shitty Chinese LED grow lights. This contact from FB will then PayPal you money to buy the light in exchange for a review...

People are going crazy for it and it’s rampant af

But if the customer got back $47K cash via buyback, wouldn't the bank would only be processing the "profit" of $3K cash?

All this honestly... just makes me think that the government isn't super interested in putting a stop to this. Think of all the tax revenue these luxury stores are bringing in regardless of the legitimacy of the cash they take in.

Kinda seems like as long as you pay the tax man, you're good to go?

There’s the rub for the government too... that gangster goes shopping they just made $3,161.40 off that mofo in taxes that they wouldn’t have otherwise made

Kind of sheds a light on why the luxury buy/resell market is super strong in Vancouver doesn't it. I mean, its nowhere near the level of parking offshore and dirty money in property but its still something.

I'd figure most people would already know this, but the banks are the worst places to do your money laundering and/or rob as much of a target they seem to be. The levels of policy built in and protections in place is a million times higher than almost any other business out there.

They mustve slammed into the bus

Top right corner


looks like head on crash into bus

https://www.reddit.com/r/vancouver/c...t_41st_knight/

top comment says it's a VPD SUV that hit the bus

Fucking gangsters ... just die already, everyone of you. Do it like real men ... have 2 of your top bosses go to a farm and settle this shit with a good old fashion Western quick draw and leave the rest of us alone.

Maybe the VPD should learn to drive and vi some of their own cars

The government is very interested in putting a stop to this... In Sept 2023 1 month before the federal election.

If it turns out to be a police SUV that hit a bus head on ... that shows the complete moronic incompetence of the police. Even if you were chasing a bad guy ... how the fuck do you hit a bus head on ... didn't see it coming? My see lai mom in Richmond can't park for shit but at least she can avoid a bus!

That was an exceptionally long amount of tire skidding you could hear before the actual impact. That car must've been completely hauling ass.