Indictments announced on July 8, 1999, in Manhattan, New York allege that a stock broker from Naples, Florida and other defendants bilked investors by lying to them, performing unauthorized trades, ignoring sell orders, engaging in forgery, and committing outright theft. Some investors, mostly…
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The joint investigation among several federal and local law enforcement officials was initiated as the result of a SAR filing. In February 2002, three (3) brothers pled guilty to fraudulently selling food stamps out of their convenience store. The scam netted nearly $2 million. The brothers also…
A suspect who owed the Internal Revenue Service more than $1 million was sentenced to more than five years in prison after pleading guilty to illegally structuring financial transactions and conspiring to defraud the United States Government.
The defendant’s spouse also pleaded guilty to…
In the course of an investigation into possible terrorist activities, investigators uncovered a SAR that provided detailed information concerning suspect check cashing activity by the operators of a convenience store. The filing bank’s audit found that the business was cashing checks to disguise…
A Suspicious Activity Report facilitated the investigation of a large bank failure that received national attention due to its size and the related criminal actions. The subject of the investigation, a former loan officer with a bank, initiated a series of nominee loans. He funneled the proceeds…
In 2006, the United States Attorney for the Northern District of Georgia announced “Operation Rainmaker,” a major, multi-national federal drug and money laundering investigation initiated by ICE-Atlanta that culminated with 24 arrests in the United States and Colombia. The investigation…
An FBI agent proactively reviewing SARs identified a potential fraud scheme. However, as he dug deeper into the scheme, he learned the perpetrators of the crimes were in fact victims of yet another fraud based on high-yield investments. This second scheme led to a series of international…
The Federal Bureau of Investigation initiated a Material Support of Terrorism investigation based on a Suspicious Activity Report filed by a bank detailing a series of overseas financial transactions totaling millions of dollars. Two of the participants in these transactions were a United States…
A Suspicious Activity Report filed by a financial institution led to a bank fraud investigation by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation’s Office of Inspector General. The Suspicious Activity Report implicated a loan secretary in the misapplication of…
A Suspicious Activity Report filing prompted a Bureau of Immigration and Customs Enforcement investigation into the activities of a subject from another country. The Suspicious Activity Report alleged that after an initial account opening deposit, the subject had structured deposits exceeding $…