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Case Examples
In March 2002, the founder and former president of a small bank pled guilty to structuring financial transactions. The banker had earlier argued that he was merely trying to gain customers for the bank. The case involved the banker asking an individual if he and his father could deposit money at…
Case Examples
An investigation into the exportation of stolen merchandise exposed that the defendant was using a check kiting scheme to defraud local area banks resulting in losses exceeding $50,000. Subsequent to the defendant’s bond hearing, the defendant fled the jurisdiction and continued to engage in…
Case Examples
On October 7, 1999, a man and woman, their lawyer and three private investigators in their employ were arrested for alleged involvement in an elaborate conspiracy. The conspiracy included bilking millions of dollars worth of goods from a food bank, burning buildings for insurance, stalking, and…
Case Examples
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 lieu…
Case Examples
Members of a multi-state drug trafficking and money laundering organization have pled guilty to multiple counts of narcotics trafficking and money laundering. The organization trafficked in Oxycodone and the movement of large amounts of money between two states. The organization was identified over…
Case Examples
A Federal judge sentenced a chiropractor to 8 months’ imprisonment and fined the defendant $30,000 for structuring a series of transactions. In addition, during the course of the investigation, evidence surfaced that the defendant may have committed medical fraud and may have obtained a medical…
Case Examples
In a case where investigators believe that as much as $7 million in losses may be realized, Bank Secrecy Act (BSA) records helped identify co-conspirators, accounts, and elements of a mortgage fraud scheme. Specifically, Suspicious Activity Reports described transactions related to the fraud in…
Case Examples
In January 1999, the Financial Crimes Division (FCD) of the Texas Office of Attorney General (OAG), initiated an investigation into money laundering allegations based on information received from a Suspicious Activity Report (SAR) filed by a Texas bank. This investigation centered on the operation…
Case Examples
In a Florida case, a SAR filing led to the identification of additional fraud perpetrated by a subject already under investigation by special agents within the U.S. Secret Service’s (USSS) Tampa Field Office. From December 1996 through May 1997, investigators identified an individual who deposited…