People always say mattress stores are shady and used for money laundering. Not totally sure I understand exactly what money laundering is. How would this occur at a mattress store?

Question

People always say mattress stores are shady and used for money laundering. Not totally sure I understand exactly what money laundering is. How would this occur at a mattress store?

In: 763

Answer 1

This is done with roadside car washes in the UK.. there’s like 5 of them round me.. so they have the legitimate car wash business that generates 5k a week.. but they actually post revenue of 20k per week.. and just fudge the books to say they washed way more cars than they actually did and that extra cash goes in the bank and is now laundered.. they just draw the money from the business.. they still have to pay the tax on the ill gotten gains but it’s almost 100% safe..