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Case Examples
One individual has pled guilty to multiple counts of money laundering, filing false tax returns, failing to file Reports of Foreign Bank and Financial Accounts (FinCEN Form TD F 90-22.) and illegally transferring funds to Iran. The plea agreement also requires forfeiture of over half a million…
Case Examples
An Alaska motor home dealer was sentenced to 36 months in prison and 5 years probation after being found guilty of bank fraud and money laundering charges. The dealer was also ordered to pay restitution to the bank.The motor home dealer obtained loans using trade-in motor homes as collateral. The…
Case Examples
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…
Case Examples
In a case initiated from SARs, Federal agents uncovered two businesses that were hiring illegal aliens in order to provide skilled and unskilled labor services to area warehouses. The businesses then paid the illegal aliens in cash, with funds withdrawn by the president and office manager in…
Case Examples
A Suspicious Activity Report review team identified SARs filed by three different financial institutions within several months on the same subject, describing similar transactions involving structuring and the wire transfer of funds to an Eastern European country (Country A).According to…
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
A business owner was sentenced to several years in prison followed by three years supervised release and ordered to pay a fine of nearly $1 million. The defendant was convicted of three counts of tax evasion and one count of structuring a financial transaction to avoid federal currency transaction…
Case Examples
In early 2006, a U.S. Attorney’s Office secured guilty pleas from two businesses for evading Bank Secrecy Act (BSA) reporting requirements by structuring deposits. The presiding judge sentenced the businesses to unsupervised probation, and as part of the agreement, the businesses agreed to forfeit…
Case Examples
A SAR filed by a financial institution in Pennsylvania led to a joint investigation by the IRS/Criminal Investigation, the U.S. Postal Inspection Service, and the FBI into a network of Brazilian nationals that used U.S. banks to launder the proceeds generated from stolen checks. Additional SARs…
Case Examples
An illegal alien pleaded guilty to stealing Social Security numbers, fabricating names, and swindling almost $2 million dollars from credit card companies.The defendant’s name surfaced in the course of an investigation into organized criminal activity. Suspicious Activity Reports document some of…