What happens to undeclared cash seized by the police?
539 sats \ 3 comments \ @Balzac 16 May econ
Yesterday, while watching the news on television, I learned that the police had conducted an undercover operation and seized an extremely large amount of undeclared cash.
At that moment a question came to my mind: What happens to this undeclared money seized by the police, which comes from the sale of drugs or prostitution?
Does it ever come back into circulation as government money, or is it just kept in evidence/storage forever?
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153 sats \ 0 replies \ @TNStacker 16 May
This is an whole circular economy, especially in states like Tennessee!
Law enforcement agencies may seize property consisting of vehicles, money, real property, and other miscellaneous property. Property may be seized for possession of narcotics, illegal or prescription
https://www.tn.gov/safety/tnhp/forfeit.html#:~:text=Law%20enforcement%20agencies%20may%20seize,of%20narcotics%2C%20illegal%20or%20prescription.
As a result, suing the state is a cottage legal industry.
In Tennessee every year, law enforcement agents seize millions of dollars in cash and property from civilians during traffic stops and other encounters, simply by asserting that they believe the money or property is connected to some illegal activity, oftentimes without ever pursuing criminal charges.
https://action.aclu.org/legal-intake/tn-civil-asset-forfeiture-intake
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0 sats \ 0 replies \ @BitcoinAbhi 16 May
It actually comes back to circulation where I live.
I just want to say that cash is a big problem. People have become dishonest because of it. With all technology going around, why not governments cut cash from use by banning it.
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0 sats \ 0 replies \ @Undisciplined 16 May
This is a major source of funding for many police departments. It definitely does not just sit in storage.
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