Impressive Sea Ray

[BruceK]

Five charged after $623m worth of cocaine allegedly found on boat

www.9news.com.au

I was impressed by the offshore ability, and load capacity, of this Sea Ray intercepted by Police off the NSW State north coast. It had traveled hundreds of kilometers from Sydney to South West Rocks, immediately after purchase for .5M cash, without so much as a shakedown cruise.
Impressive load carrying capacity too, over a tonne of cocaine, some packages oddly branded Louis Vuitton.

 

[CharlieO.]

Who ratted them out for paying cash for the boat? If it was the seller that seems like a bad idea, good way to lose your cash and boat.

 

[BruceK]

Cash transactions > 10K are required to be reported to financial authorities. I don`t know who reported it, but seem,s there was a duty to do so. Some searched info below:

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Reporting multiple cash transactions

AUSTRAC
https://www.austrac.gov.au › core-guidance › reporting







How do I report cash payments over $10,000 in Australia?


Any business that provides a designated service that involves the transfer of A$10,000 or more (or the foreign currency equivalent) must submit a TTR to AUSTRAC. If you are an affiliate of a remittance network provider (RNP) and the threshold transaction was made on your RNP's network, they must submit the TTR for you.31 Mar 2025

Threshold transaction reports (TTRs) | AUSTRAC​

AUSTRAC
https://www.austrac.gov.au › core-guidance › reporting




How much cash can you spend without it being reported?


The Internal Revenue Code (IRC) provides that any person who, in the course of its trade or business, receives in excess of $10,000 in cash in a single transaction (or in two or more related transactions) must report the transaction to the IRS and furnish a statement to the payer.