Legal Question in Consumer Law in California

Is buying money for less than the dollar amount a crime?

Asked on 6/13/22, 10:48 pm

1 Answer from Attorneys

Timothy McCormick Haapala, Thompson & Abern, LLP

Not unless it's part of a money laundering or tax evasion scheme, or some other illegal conduct, or it's counterfeit. It happens all the time when exchanging currencies. That's how the money exchange companies make their money. It also happens when businesses that have to make a lot of change at retail locations obtain coins from banks. They always pay a little more for the coins than the coins are worth for the service of receiving counted and rolled coins delivered.

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Answered on 6/14/22, 8:30 am

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