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Case Examples
A purported entrepreneur convinced scores of individuals to invest in ventures and businesses supposedly related to the extraction of natural resources that were, in reality, part of a sophisticated Ponzi scheme. The defendant followed a familiar pattern evident in such schemes: paying earlier…
Case Examples
Through a proactive review of SARs, a Federal agent identified records detailing structured transactions, unusual withdrawals, and unexplained wire transfers. The subsequent investigation uncovered over $2 million in cash and wire transfers from a drug-related money laundering conspiracy involving…
Case Examples
Immigration and Customs Enforcement conducted an investigation based on a number of Suspicious Activity Reports involving a licensed money services business. The owners and operators of the money services business conspired with unlicensed money remitters (couriers) to commit criminal acts. The…
Case Examples
In early 2012, FinCEN conducted outreach to all of its state and local law enforcement partners, and asked for cases where FinCEN data played a useful role in their investigations. Below, in their own words, is an example of how FinCEN's stakeholders use FinCEN data. It has been edited only for…
Case Examples
An investigator in the District Attorney’s office was conducting a proactive search in the BSA database for illicit activity and found a SAR filed on a business thought to be operating as an unlicensed money remitter. The office opened an investigation on the subjects of the SAR and obtained guilty…
Case Examples
In early 2012, FinCEN conducted outreach to all of its state and local law enforcement partners, and asked for cases where FinCEN data played a useful role in their investigations. Below, in their own words, is an example of how FinCEN's stakeholders use FinCEN data. It has been edited only for…
Case Examples
In a case initiated based on the filing of a Suspicious Activity Report, a former investment officer for a bank was sentenced to two years in prison and three years supervised release and was ordered to make restitution of almost half a million dollars. He pled guilty to embezzlement by a bank…
Case Examples
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…
Case Examples
Federal law enforcement and regulatory agencies conducted a securities fraud investigation where defrauded investors lost at least $32 million. Investors believed they were investing in coal mines and a huge and highly secretive gold transaction. Three individuals were convicted of running the…
Case Examples
In May 2003, two individuals pled guilty to first-degree money laundering charges. One defendant was sentenced to 12 years incarceration, and ordered to pay $500,000 to the Anti-Money Laundering Profiteering Fund. The second defendant was sentenced to 18 years incarceration. A month earlier, in a…