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An attorney was sentenced to more than four years probation based on a conviction for mail fraud and structuring of currency transactions. The attorney was also ordered to pay nearly $3 million in restitution to the victims of the various schemes and ordered to cooperate with the Internal
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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…
SARs initiated the investigation of an automobile dealer who held several accounts at different institutions and continually transferred funds among the accounts, which caused the accounts to be overdrawn by millions of dollars. In addition to filing the SARs, the bank also notified law…
Four individuals involved in the distribution and sale of marijuana were sentenced to prison terms ranging 12 to 21 months followed by up to 36 months probation. These sentences resulted from guilty pleas by the targets on one count each of money laundering for the manner in which they handled…
A proactive review of BSA filings from several financial institutions led law enforcement to investigate the operator of a charitable organization who had structured over $1 million. The defendant pleaded guilty to structuring and the filing of a false tax return, and was sentenced to a prison…
A repeat fraud offender landed back in court when investigators found that two casinos filed CTRs for transactions he conducted that totaled over half a million dollars. The investigation determined that he substantially underreported his income, violated provisions of his release by traveling…
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…
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…
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…
A federal judge sentenced the defendant to a prison term after a jury found the defendant guilty of several counts of making false statements to a federally insured bank.
The defendant owned a construction firm. A federally insured bank granted the defendant a working capital line of…