- Mar 29, 2001
- 23,108
- 73,689
Of course they knew.
But it ain’t what you know, it’s what you can prove.
But it ain’t what you know, it’s what you can prove.
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Can’t celebrate a cat goin to prison
Reading some of these replies, some of yall sound like this news of him gettin caught up made your day.
He ain’t the only one out here tryin to finesse more bread, he just the latest one that got caught.
Your favorite brand/corporation is probably up to worse…
Like I said above, without backdooring gr's, boutiques don't exist. Let's hope the others are invoicing their backdoor transactions and paying taxes on them.
I'll be honest and say that then selling to someone in China isn't a huge surprise. That hasn't been a huge secret. Pretty sure some bot groups already knew about it too. I just assumed it was on the up and up bc of how non lowkey it was.
That's what people will think and why people will be happy about this but that's not what was happening at all. It was gr Jordan and gr Nike to hit certain sales quotas to hit tier 0. People weren't lining up for the pairs that were going to China. The pairs that people lined up for were easy to move. It's the 1800 pairs of a random gr Jordan 5 that would sit for months and eventually be shipped back to Nike and end up in an outlet. If you move them, they love you. If you ship them back, it's a mark against you. I've talked about this game many times on here but a lot of people still don't grasp how it works. Seems like James just picked the wrong person to sell to.All those release dates people sat outside too support your business and you were backdooring your stock that’s straight up shady
Dead on. Every shop has people they sell gr's prior to release for below retail. Retail is $200, cost is like $120. They sell them to someone for like $150 and that person can move for $180-200 a pair and make a little but they have to get rid of them asap before release date bc then prices tank. Everyone wins. But yea the IRS and China angle seems to be the issue here.Folks don’t even realize how many pairs get sold before release date. You would think they’d atleast be doing things in a way to be square with the IRS.
Little early for that, nobody has even been charged yet. Curious to see the whole story.Sucks for all the people employed too. They'll have to go out and find new jobs, with new worry about money and making ends meet, right at the start of the holidays.
They have him on 3 years of surveillance. This was the final move stinging the drop and seizing the money. They wait to do this until the end for the very reason that things become public. Can’t hide that charges are coming for very long.Dead on. Every shop has people they sell gr's prior to release for below retail. Retail is $200, cost is like $120. They sell them to someone for like $150 and that person can move for $180-200 a pair and make a little but they have to get rid of them asap before release date bc then prices tank. Everyone wins. But yea the IRS and China angle seems to be the issue here.
Well crap, I haven’t received shipping confirmation yet…guess I should temper my expectations.
I hope this whole release doesn’t fall through. And I hope this isn’t disastrous for all the people employed.
Little early for that, nobody has even been charged yet. Curious to see the whole story.
Ya panicking over nothing, like a 1% chance this release gets cancelled. What is Nike gonna do with all them shoes, send them to outlets? Just relax, you'll get ya shoes
You read a couple articles this morning and now you're an expert. That's cute.They have him on 3 years of surveillance. This was the final move stinging the drop and seizing the money. They wait to do this until the end for the very reason that things become public. Can’t hide that charges are coming for very long.
And let’s be clear: comparing manufacturing in China that just about every company does to working with a mirror exchange/laundering ring and doing 255 meet ups with a Chinese prostitute to collect is wild. These are worlds apart.
Backdooring a size run of a GR to an American and paying taxes even at your wholesale price is a HUGE difference. Orders of magnitude difference. Tens of thousands of pairs of shoes each year.
The best part is the court filing showing the TWG accountant being left in the dark on all this. Jimbo was running his own personal greed train! I hope anyone with that much influence in this market gets run over by their own creation.
Oh for sure, just not something that happens overnight. If definitely start looking at options though.Feds don't play though. If you're an employee at one of the stores like a clerk or something, I can't imagine hearing about this and not being worried.
You think you’re smart but this is pretty basic stuff in 2023. Netflix’s Dirty Money covered mirror exchanges half a decade agoYou read a couple articles this morning and now you're an expert. That's cute.
We all know you'd never heard of a mirror exchange until you watched that video.
Netflix’s Dirty Money covered mirror exchanges half a decade ago
Why don't they just hire that person that can move them for the $200 retail instead of selling them at a discount only for them to sell it for retail?Dead on. Every shop has people they sell gr's prior to release for below retail. Retail is $200, cost is like $120. They sell them to someone for like $150 and that person can move for $180-200 a pair and make a little but they have to get rid of them asap before release date bc then prices tank. Everyone wins. But yea the IRS and China angle seems to be the issue here.
double play stop defending this dude - amm has been sus for a long time and i’ve tried to point that out over the years. glad this stuff is finially coming to light.They have him on 3 years of surveillance. This was the final move stinging the drop and seizing the money. They wait to do this until the end for the very reason that things become public. Can’t hide that charges are coming for very long.
And let’s be clear: comparing manufacturing in China that just about every company does to working with a mirror exchange/laundering ring and doing 255 meet ups with a Chinese prostitute to collect is wild. These are worlds apart.
Backdooring a size run of a GR to an American and paying taxes even at your wholesale price is a HUGE difference. Orders of magnitude difference. Tens of thousands of pairs of shoes each year.
The best part is the court filing showing the TWG accountant being left in the dark on all this. Jimbo was running his own personal greed train! I hope anyone with that much influence in this market gets run over by their own creation.