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A federal judge has ordered more than 24 years of prison time for a former loan officer who was found guilty on all eight counts of an indictment charging conspiracy, bank fraud, wire fraud, and money laundering. Several financial institutions identified unusual transactions related to the…

An IRS investigation in Virginia was initiated on the owner of a travel agency for currency structuring charges after the analysis of SAR and CTR filings. In addition to the travel agency, the defendant operated a money transmittal business that was wiring funds to his business interests in Lima,…

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…

In what a federal prosecutor called “the most blatant currency structuring case” he had seen, a federal judge sentenced an 82-year-old man in March 2007 to 15 months in prison and ordered him to pay $110,000 in restitution to American victims of an international lottery scheme. The defendant had…

In March 2002, as a result of a lead provided from a SAR, an investigation was initiated into an individual doing business as an unlicensed money remitter. The funds were being wired to a bank account in Jordan.In October 2002, U.S. Customs agents executed a search warrant on three residences and…

SARs filed by a bank resulted in the initiation of an investigation by the IRS. Three (3) family members pled guilty to conspiring to obstruct the IRS from ascertaining their true income tax liabilities for tax years 1978 through 1995 by filing false tax returns and structuring currency transaction…

Two partners were sentenced to prison as a result of their involvement in telemarketing fraud. According to the United States Attorney’s Office, the partners owned a telemarketing business and admitted that employees of that business used pre-text calling to obtain information from numerous…

In April 2002, predicated by numerous SAR filings by two large banks, the FBI initiated an investigation into an investment scam. The SARs were filed on numerous personal and business accounts with no obvious relationships to one another. Bank personnel eventually linked all accounts through the…

A subject was sentenced in United States District Court to serve the longest prison term possible under Federal sentencing guidelines for claiming he was earning huge profits on a stock trading formula where he was actually using investors’ money to buy homes and luxury items. The subject was also…

In May 2000, a federal jury convicted an individual from Norwood, Massachusetts, on two counts of money laundering believed to be the proceeds of narcotic sales. At the time of the offense, the individual worked at a Brockton, Massachusetts check cashing business. In May 1998, an undercover…