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legalgems, Lawyer
Category: Criminal Law
Satisfied Customers: 7124
Experience:  Just Answer consultant at Self employed
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One of my brother's friend in China would investment

Customer Question

Hi, one of my brother's friend in China would investment immigrant to US and need a large amount of money on his account. He wire transfer me 4 large amount of money and want me to send them back to his account in Hong Kong.
There are 4 different people sent the money from China to my BOA account (50k each), its 200k in total. I can see the senders name and frombank in my bank statement, but I don't know the sender(person). And I don't know the legitimacy of those 4 amount of money.
Why 50k each? This may because one Chinese person only have 50k USD foreign currency quota.
Some one told me that this behavior looks like a risky of money laundering. I received large amount of money separately and sent out to someone else in a short time. And I heard the bank needs to report the activity.
I have received all of the money. What should I do now, should I need lawful proof of those 4 amount of money? Or I have to return back the money, but how to return back?
FYI, I'm now under H1B status.Thanks,
Submitted: 3 months ago.
Category: Criminal Law
Expert:  legalgems replied 3 months ago.

I am very sorry to hear you are dealing with this;

Banks need to report transactions that are $10,000 or over.

When unknown people request financial assistance it is usually a scam; often times the party will send money, requesting that the recipient deposit the check; while the check is still pending, they will request the recipient to send the money back to the sender; in the meantime the checks won't clear, so the recipient will be out whatever money was sent.

Please see:

Additionally there would be no need for a prospective immigrant to have $200,000 (and even if so, it does not have to be in USD). They just need to show their financial ability to support themselves.

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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

Customer: replied 3 months ago.
Its not scam, because I already received it for 2 weeks.
I want to know if I receive then transfer those amount of money to Hong Kong is legal or not?
Expert:  legalgems replied 3 months ago.

It depends - under the Bank Secrecy Act, the government has jurisdiction to investigate large sums of money being deposited/transferred; if there is in fact money laundering then all parties would be criminally liable; so generally before dealing with large sums of money on an international basis it is best to hire a financial advisor and only deal with people that one is familiar with that are engaging in a lawful purpose- ie there should be a contract stating the purpose of the transfer, why money is received/sent, etc. as it is not clear why the money was sent in the first place; if it was not part of an inheritance or investment and there is no cause for the money that is a red flag and one would need to have an accountant determine the purpose of the funds and to ensure there is not money laundering or other criminal issues.

Expert:  legalgems replied 3 months ago.

checking in on the above; thank you for using Just Answer; enjoy the holiday weekend.

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