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A man with a compulsive gambling addiction embezzled millions of dollars from a public utility and lived the life of a “high roller” for several years before being caught. The defendant established several shell corporations to bilk a county for water well capacity rights.
As part of the…
An individual approached federal authorities and reported a story about drug smugglers. Agents questioned the individual's story and sought to authenticate his statements with queries in the BSA database. They instead found over a dozen CTRs and SARs that indicated the individual was involved in…
Case summary: A woman was sentenced in 2010 after pleading guilty to a structuring charge resulting from the theft of funds from her elderly mother. Although the defendant received a relatively light sentence, the assistant U.S. attorney prosecuting the case noted that structuring was the only…
In late 2006, a United States Attorney’s Office secured a guilty plea in a major racketeering case involving trash collectors and organized crime. The multi-state investigation included ten federal, state, and local agencies and resulted in a multiple-count indictment. Hundreds of BSA records…
An individual from Catlettsbury, Kentucky pleaded guilty in U.S. District Court on May 19, 1999, to laundering $5.9 million in drug proceeds from the sale of marijuana in West Virginia and Kentucky. The indictment alleged that the individual, his brothers, his stepbrother, and three other…
In February 2002, SAR information provided by an investment account firm revealed wire transfers in excess of $500,000 originated from an individual's account, through a trading company in Dubai, UAE, for transfer to Iran. Investigation disclosed the account holder had made comments to the…
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…
In a case where a corrupt politician extorted money from his constituents, investigators examining his financial records found numerous instances of structuring. In fact, three different banks filed SARs on the defendant detailing unusual transactions. Prosecutors charged the official with…
In a case that started when a bank notified federal agents that it intended to file a SAR on two subjects, investigators utilized BSA records to uncover additional participants in a fraud scheme. The investigation determined that the participants used stolen account information to steal funds…
Case summary: In 2010, a United States Attorney announced that a doctor pled guilty to conspiracy to impede the United States and to making a false statement. He was facing a maximum sentence of ten years in prison and a maximum fine of $500,000.
Case details: According to court…
