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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…
In a case initiated based on the filing of a SAR, a former high-ranking officer of an insurance firm, who was charged in a multiple-count federal indictment including counts of embezzling insurance premiums, falsifying records and filing false tax returns, has been sentenced to almost two years…
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 Federal judge sentenced a chiropractor to 8 months’ imprisonment and fined the defendant $30,000 for structuring a series of transactions. In addition, during the course of the investigation, evidence surfaced that the defendant may have committed medical fraud and may have obtained a medical…
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…
ICE agents and analysts in a state in the Southwest developed information from a SAR that an out-of-state business was structuring deposits of large sums of cash and was operating as an unlicensed MSB. During a two-month period, this business made outgoing wire transfers totaling approximately $…
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…
A man accused of managing an international theft ring involving more than $1 million has been indicted and faces charges including fraud and money laundering. Prosecutors allege that the defendant stole the identities of hundreds of people and used his stored-value card business to launder and…
A defendant was sentenced to serve multiple months in prison followed by several years probation, after pleading guilty to narcotics trafficking charges and structuring financial transactions to evade the currency reporting requirements in connection with a marijuana growing operation. The…
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…