Who keeps 400k in cash at home?

Rows Grower

Jesus that's a lot of money to have in the house and for burglars to be able to find. Very few bank robberies would have been that profitable for thieves.

Somone else's house got robbed as well and the burglars got away with 100k in cash plus a handgun, both crimes happened in north Dublin within 6 days of each other.

https://www.independent.ie/irish-news/crime/manhunt-underway-for-burglars-who-stole-500000-and-a-gun-in-space-of-six-days/a1087520871.html

Princess Calla

Behind paywall so couldn't read it.

Me suspects they were known to each other.

Unless that was one very lucky burglar!

magicbastarder

I feel seen.

Clo-Clo

Who keeps 400k in cash at home? Drug dealers

RobbingBandit

Subscribes to thread

BrianD3

Tax evasion is common in certain sectors of the economy e.g. trades, construction. If a tradesman does cash work, he's probably not going to lodge the money in his bank account. Over time if he lives frugally, a substantial sum can build up. Then there's the added benefit of passing the capital means test for social welfare payments when a recession hits as he "has nuthin" (except for the 200k in his mattress)

I have not read the article but the taking of a handgun jumps out much more than having cash in the house. Who has a handgun, AFAIK there are very few legally held handguns here.

Rows Grower

https://www.boards.ie/discussion/comment/121374098#Comment_121374098

It says in the report that the victims in both cases have absolutely no involvement in crime.

The over 400k stolen on Tuesday belonged to a "well respected elderly couple" and was all in 50 and 100 euro notes.

893bet

Fact that they declared the hand gun as stolen even strange.

Baba Yaga

id imagine that both the burglar and the burglaree are ,as they say on the news "known to gardai"

Nigel Fairservice

When a neighbour of mother passed away many years ago, £100,000 was found in a fertiliser bag in a ditch outside his house. The guy was a bachelor farmer.

Rows Grower

https://www.boards.ie/discussion/comment/121374158#Comment_121374158

The handgun that was stolen was in a different house, there was 100k cash robbed from that house as well as the handgun.

It would have to be reported as it was licenced to the chap that was robbed.

893bet

https://www.boards.ie/discussion/comment/121374167#Comment_121374167

Which means it was legally held so unlikely the person was a drug dealer or criminal. 100k is a relatively small amount for someone evading tax on a cash business.

MarkR

Must check down the side of the couch.

10-10-20

https://www.boards.ie/discussion/comment/121374161#Comment_121374161

'tis where I keep mine too, clearly.

Gusser09

https://www.boards.ie/discussion/comment/121374172#Comment_121374172

For a tradesman doing nixers it wouldnt be small. Could easily build that up too doing extra work. Plumbers etc easily charging 1k for a saturdays labour.

SEPT 23 1989

Trackside bookie.jeweller,expensive car dealer. meth cook

CollyFlower

Has the Archive site stopped working?

Bullocks

400k is some money to have in cash. Some people must be very nervous of the banks these days

pgj2015

https://www.boards.ie/discussion/comment/121374494#Comment_121374494

I think only 100 k is safe in the bank?

The Continental Op

Question is how do you spend 400K?

You can't go into a car showroom and buy a brand new car for cash. Any really large tag items won't be for cash and at most you can lodge 10K.

If you are spending it in small amounts its going to last a long time.

amacca

https://www.boards.ie/discussion/comment/121374351#Comment_121374351

For years I've been asking for a list of occupations a gentleman can get involved in and feel rewarded for his time and its always the same old shite about following your dreams etc

Turns out I was asking the wrong question, I should have asked who keeps 400k in cash in the house.

Now to research becoming a trackside bookie

Rows Grower

https://www.boards.ie/discussion/comment/121374921#Comment_121374921

Another question is how do you accumulate it?

Widdensushi

https://www.boards.ie/discussion/comment/121374155#Comment_121374155

Drawing out over time so that their kids won't have to pay inheritance tax a possibility?

Spanish Eyes

Would insurance cover these amounts in cash? There would be no evidence (I suspect) of the actual amounts claimed as stolen surely, or would there?

reactadabtc

https://www.boards.ie/discussion/comment/121374817#Comment_121374817

Theres multiple things you can do with it. You can split the cash across amongst multiple institutions, you can buy bonds, state savings schemes, wack it into a pension or put it into an ETF*

*I'm well aware of deemed disposable, but you're still making plenty of money.

Mellor

https://www.boards.ie/discussion/comment/121374151#Comment_121374151

Your handgun logic is pretty flawed that. Have a little think about the scenario you're suggesting;

Criminal has stack of cash and handgun. Gets robbed by other criminal. Reports the robbery of his illegally gotten goods to the police. Come on.

Widdensushi

https://www.boards.ie/discussion/comment/121375011#Comment_121375011

I presume if they haven't insured for the risk then no insurance.

deirdremf

https://www.boards.ie/discussion/comment/121374155#Comment_121374155

Is "well-respected" a code word for a member of the professional classes?

Either way, I wonder if Revenue will be interested in where the stolen money came from?

Former Former Former

https://www.boards.ie/discussion/comment/121374494#Comment_121374494

Lol, more nervous of a Revenue audit I would imagine.

Patrick2010

is there any link other than the Indo link?

Atlantic Dawn

https://www.boards.ie/discussion/comment/121375201#Comment_121375201

Same story on Sunday World, probably word for word, Indo owned...

https://m.sundayworld.com/crime/irish-crime/manhunt-underway-for-burglars-who-stole-400k-from-elderly-couple-in-dublin/a557156154.html

dunnerc

https://www.boards.ie/discussion/2058322777/who-keeps-400k-in-cash-at-home

Jesus thats a lot of money to have full stop

tabby aspreme

Yousef Palani, the Sligo double murderer had 375000 euro in his house, and no appearnt means of earning it, busy times for revenue

Gregor Samsa

https://www.boards.ie/discussion/comment/121375309#Comment_121375309

CAB alreqdy investigated that, and found nothing untoward as to its source:

The origin of the money was also investigated by the Criminal Assets Bureau (Cab) which determined it likely came from legitimate sources.

Gardaí have not made any public statement about the money in court or elsewhere. However, sources said it was concluded the money came from the legitimate earnings of the Palani family, which is made up of two parents and eight children.

https://www.irishtimes.com/crime-law/courts/2023/10/24/yousef-palani-massive-cash-find-sparked-fears-sligo-murders-were-terror-related/?

BrianD3

https://www.boards.ie/discussion/comment/121375046#Comment_121375046

I never suggested that the handgun was acquired illegally. But it is more noteworthy to have a legally held handgun than to have six figures in cash in the house.

If someone who has stashed away 6 figures through tax evasion but is otherwise law abiding was robbed, would they report the robbery to the Gardai, I'm not sure.

teediddlyeye

https://www.boards.ie/discussion/comment/121375350#Comment_121375350

There are many many legally held pistols in Ireland. Most are probably suprised at the amount out there as there's never any issues with them, licensed firearms holders are the most law abiding people in the country. So if it legally held I'd say the cash source wouldn't be too dodgy.

Mellor

https://www.boards.ie/discussion/comment/121375350#Comment_121375350

It really read like that what you were suggesting that. Can you explain what you meant by;

“the taking of a handgun jumps out much more than having cash in the house”

What was the much more you alluded to?

Handguns aren’t common, but neither are Picassos. If a wealthy individual had a Picasso stolen I would assume it was stolen in the first place.

taratee

https://www.boards.ie/discussion/comment/121374098#Comment_121374098

Old people. My brother works in construction and friends of the family get him to install safes from time to time. They like to have cash in the house. They don't trust the banks anymore.

L1011

https://www.boards.ie/discussion/comment/121374817#Comment_121374817

Per bank. If you have more than that that you want to keep relatively liquid, you need to multibank or use state savings.

brokenbad

https://www.boards.ie/discussion/comment/121374351#Comment_121374351

Ex-Taoiseach Bertie Ahern - the guy didn't have a bank account back in the day despite being one of the highest paid ministers in government at the time 🤔

Leg End Reject

That's a lot of 50 and 100 notes to try to hide in the house.

I wonder how they were targeted? It would be very coincidental if both were random.

AndrewJRenko

https://www.boards.ie/discussion/comment/121374151#Comment_121374151

The in-laws have a chiropodist in the family, who I'm told has shoe boxes of cash stashed on every shelf and every corner of the house. The house happens to be in a working class area often mentioned in serious crime reports.

The Continental Op

That's a lot of 50 and 100 notes to try to hide in the house.

If it was $100 bills according to ChatGPT

A stack of $50,000 in $100 bills would be approximately 4 inches tall

So I guess 400k in euros would fit in an attaché case? Like you see them hand over cash in the movies?

Boggles

https://www.boards.ie/discussion/comment/121376064#Comment_121376064

Bertie aside.

Back in the 80s, 90s, and even in the 00s it was extremely common to get paid your weekly or biweekly wage in cash.

Some of the biggest cash robberies were from companies the day before pay day. Easier than banks.

I have no idea why one would have 400k in cash in their house, I'm sure there is an explanation.

Hotblack Desiato

So if you have 400k of hot money in the house and it gets stolen and Revenue get wind of it, you presumably still owe the tax on that 400k 😁

Rows Grower

https://www.boards.ie/discussion/comment/121376196#Comment_121376196

I'm having some podiatry issues lately that I think may need some attention, perhaps you might be so kind as to PM me the address details of your distant relative?

pgj2015

https://www.boards.ie/discussion/comment/121375041#Comment_121375041

You could put it in the bank ....unless you don't want Revenue knowing about it.

JP Liz V1

https://www.boards.ie/discussion/comment/121374161#Comment_121374161

I think a lot of older folk keep money at home, large amounts

I assume burglars are known to their victims to know large money in the homes

The Continental Op

https://www.boards.ie/discussion/comment/121376408#Comment_121376408

How would you propose to pay 400k of cash into the bank? Can't see that happening without a lot of explaining.

Leg End Reject

https://www.boards.ie/discussion/comment/121376469#Comment_121376469

Lodge it as you get it, it obviously took some time to accumulate €400k in cash.

BorneTobyWilde

https://www.boards.ie/discussion/comment/121374817#Comment_121374817

Aw poor Ronaldo, he will only get 100k if hacked