In 2003, four individuals, previously convicted of charges related to a multi-million dollar real estate scheme, were ordered to pay over $1 million in restitution to reimburse victims of their crimes. According to court documents, a real estate investor and an attorney arranged for the proceeds…
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On June 25, 1999, a doctor from southern California, was ordered to pay $250,000 in fines and was sentenced to five years’ probation after his conviction in Los Angeles County Superior Court on three money laundering charges. The doctor is awaiting trial on securities and insurance fraud charges…
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…
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…
A Bureau of Immigration and Customs Enforcement’s Bank Secrecy Act Enforcement Team received information that a business was a check cashing service, but the transactions within their bank accounts indicated that the business was involved in domestic money laundering and a pyramid fraud scheme.…
In May 2000, a federal jury convicted an individual from Norwood, Massachusetts, on two counts of money laundering believed to be the proceeds of narcotic sales. At the time of the offense, the individual worked at a Brockton, Massachusetts check cashing business. In May 1998, an undercover…
The Federal Bureau of Investigation opened an investigation based upon information in SARs filed by banks indicating significant check kiting activity. The subjects operated a number of small businesses in the area. Over the course of approximately two years, the subjects conducted a check kite…
A federal credit union filed a SAR and helped initiate an investigation into a counterfeit check scheme that had similarities with Nigerian 419 fraud schemes. These frauds, designated as such because of the section of the Nigerian criminal code that prohibits them, often promise substantial…
Nine members of a drug trafficking organization were exposed and convicted largely through evidence collected from CTRs.
The defendant was known as the “money-man” of the drug trafficking organization because he was responsible for laundering the organization’s illegal proceeds from drug…
A suspect who owned a business that imported edible delicacies was sentenced to 15 months in federal prison for undervaluing the imported Asian delicacy in documentation provided to Immigration and Customs Enforcement.
The suspect pleaded guilty to structuring financial transactions to…