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Six people were convicted and sentenced for their involvement in a $12 million money laundering scheme. The scheme involved the wire transfers of drug proceeds to South American countries for the benefit of drug cartels.
The defendants deposited drug proceeds into more than 50 bank…
Two suspects, a husband and wife, had been corresponding with individuals in Nigeria for several months concerning a transfer of $30 million from Nigeria to their bank account. The suspects, skeptical of the promises made by the foreign philanthropist, performed their own investigation via the…
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 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…
In a case initiated from the filing of a SAR, investigators found that a property owner under-reported his income for several years. All told, the defendant owed and did subsequently pay the Internal Revenue Service hundreds of thousands of dollars in back taxes, penalties, and interest. Six…
Case summary: A jewelry store owner who was previously convicted of laundering funds for drug dealers was caught again accepting currency from drug traffickers in exchange for jewelry. In a sting operation, the defendant accepted approximately $30,000 in cash from an undercover IRS agent in…
A state law enforcement agency opened an investigation against an individual for fraudulent activity related to real estate sales in Mexico. In the course of the investigation, an agent requested records filed under the BSA. Several BSA records related to the individual indicated financial…
In 2006, a Federal grand jury indicted several businesses and individuals, including mortgage brokers, on numerous charges of mail fraud, bank fraud, conspiracy to commit mail, wire and bank fraud and contempt of court in a nationwide scheme that purported to eliminate the mortgages of thousands…
In September 2003, an Iraqi national was sentenced in federal court after pleading guilty in June 2003 to one count of 18 USC 1956 (h): conspiracy to launder money with the underlying offense of 18 USC 1957 (engaging in monetary transactions in property derived from a Specified Unlawful Activity…
In a case that started from a proactive review of SARs, an automobile dealership pleaded guilty to conducting transactions designed to avoid the filing of Currency Transaction Reports. Although the SAR only details activity that occurred in a period of twenty days, investigators found a pattern…
