If someone buys a multi million dollar home in cash is that a sign of possible money laundering?

+1 vote
asked Feb 21, 2019 in Real Estate - Renting by david13667 (400 points)
If someone buys a multi million dollar home in cash is that a sign of possible money laundering?

2 Answers

0 votes
answered Feb 21, 2019 by Minty (132,850 points)
It could be a sign of money laundering but not always.

Some millionaires may have the full amount in cash saved up in a savings account or in their bank account over the years to afford to pay off a multi million dollar home in cash and in full.

So although it can sometimes be a case of money laundering it isn't always a case of money laundering although the bank may get suspicious but if the money was obtained legally then the bank won't have any problem with someone paying off a multi million dollar home in full from their bank account.
0 votes
answered Feb 21, 2019 by TB333 (380 points)
Money laundering could be very possible in the case of buying a multi million dollar home in cash but it's not always the case.

The bank may most certainly investigate where the cash came from to be sure it's legal but some rich people do have enough money in cash to buy a multi million dollar home and that cash can be obtained legally.

Take Jeff Bezos for example the CEO of Amazon. He could certainly pay cash for a multi million dollar home because he's a billionaire.

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