A defendant was sentenced to Federal prison after he admitted to structuring dozens of bank deposits and withdrawals, in an attempt to conceal proceeds from marijuana and hallucinogenic mushroom sales. With detailed bank statements, prosecutors could prove structuring and money laundering in…
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BSA information played a key role in the investigation and prosecution of a major drug trafficker. The information allowed investigators and prosecutors to identify additional accounts as well as measures that the defendant took to hide his illicit gains.
A cocaine dealer was recently…
A federal judge sentenced the defendant to a prison term after a jury found the defendant guilty of several counts of making false statements to a federally insured bank.
The defendant owned a construction firm. A federally insured bank granted the defendant a working capital line of…
A proactive review of BSA filings from several financial institutions led law enforcement to investigate the operator of a charitable organization who had structured over $1 million. The defendant pleaded guilty to structuring and the filing of a false tax return, and was sentenced to a prison…
Law enforcement initiated an investigation into a defendant for operating an unlicensed money transmitting business and assisting the business in the avoidance of Office of Foreign Asset Control (OFAC) sanctions on a designated country.
The defendant was convicted of violating the…
An alert financial institution, upon learning of negative information on potential clients, filed a SAR and notified Federal law enforcement officials of its findings. The ensuing investigation revealed that several subjects conducted a complex series of transactions, over a period of several…
A U.S. military officer used his official position to steal currency designated for war use, transferred the funds to the United States, and then spent that money on personal items. When the defendant conducted transactions with the stolen currency at financial institutions, those transactions…
A man with a compulsive gambling addiction embezzled millions of dollars from a public utility and lived the life of a “high roller” for several years before being caught. The defendant established several shell corporations to bilk a county for water well capacity rights.
As part of the…
In a case initiated from a SAR review team, a Federal government accountant pleaded guilty to theft of public money and money laundering. The case began when an alert bank noticed several unusual transactions, including large cash payments to credit card accounts. Activity in one account at the…
A U.S. district judge sentenced a financial manager to 10 years in custody for using two financial institutions to launder funds from an embezzlement he orchestrated while working for an Indian tribal government entity receiving Federal funds. He was charged with stealing more than $180,000 over…