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Is this an acceptable proof of funds or a big red flag

Stephenmoka5

Member
Dec 5, 2018
13
2
Hi there, I am considering going to the Canadafor my sport training (Pro wrestling), I am able to raise some money from a bookmaker in my country about $4000 to $5000 per week steady for some months now. I don't know how to explain this source of funds 'cause my real monthly salary is not even up to half of a weekly earning with the bookmaker.
 

Bryanna

VIP Member
Sep 8, 2014
14,137
3,121
Hi there, I am considering going to the Canadafor my sport training (Pro wrestling), I am able to raise some money from a bookmaker in my country about $4000 to $5000 per week steady for some months now. I don't know how to explain this source of funds 'cause my real monthly salary is not even up to half of a weekly earning with the bookmaker.
IMO, it could be seen as a huge red flag because personally you don't have the finances to fund your training nor are you being funded by a 'regular' sponsor
 

Stephenmoka5

Member
Dec 5, 2018
13
2
Thanks @Bryanna and others. Maybe I wasn't too explicit. I mean I can't proof this source of funds cause payment are made into my account from them, I don't receive pay slips all payment and commission are sent to my online account with them (I can send fund from this online account directly to my bank), I own properties with their business name on it, I can also hire and fire anyone anytime. I currently have about N17,600,144.37 in the account (personal bank account is different) at an exchange rate of 1 usd to 364.22 I have 48,325.60 usd. I can access this funds anytime, I don't know if paying myself would also be a good idea. Thank you all
 

Bryanna

VIP Member
Sep 8, 2014
14,137
3,121
Thanks @Bryanna and others. Maybe I wasn't too explicit. I mean I can't proof this source of funds cause payment are made into my account from them, I don't receive pay slips all payment and commission are sent to my online account with them (I can send fund from this online account directly to my bank), I own properties with their business name on it, I can also hire and fire anyone anytime. I currently have about N17,600,144.37 in the account (personal bank account is different) at an exchange rate of 1 usd to 364.22 I have 48,325.60 usd. I can access this funds anytime, I don't know if paying myself would also be a good idea. Thank you all
It's simple:
If the source of the bank deposits/transfers cannot be proved = Income is not legit = Income is not yours