In May 2003, two individuals pled guilty to first-degree money laundering charges. One defendant was sentenced to 12 years incarceration, and ordered to pay $500,000 to the Anti-Money Laundering Profiteering Fund. The second defendant was sentenced to 18 years incarceration. A month earlier, in…
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On February 15, 2000, an individual from New York pled guilty to three felony charges of money laundering, interstate transportation of stolen property, and credit card fraud. The defendant obtained access to fitness centers and country clubs across the country, stealing credit cards from gym…
The owner of a company that distributed various products to small independent convenience and grocery stores was sentenced to 188 months in prison after his conviction on drug, money laundering, and Title 31 charges. The company was distributing pallet-load quantities of psuedoephedrine to a…
A Suspicious Activity Report facilitated the investigation of a large bank failure that received national attention due to its size and the related criminal actions. The subject of the investigation, a former loan officer with a bank, initiated a series of nominee loans. He funneled the proceeds…
A U.S. military officer used his official position to steal currency designated for war use, transferred the funds to the United States, and then spent that money on personal items. When the defendant conducted transactions with the stolen currency at financial institutions, those transactions…
A case initiated through a SAR review team identified a money remitter structuring transactions through multiple banks and accounts. Although registered withFinCEN, he did not properly license his business with state authorities. The banks initially became suspicious when he used his personal…
Case summary: A lawyer and his paralegal assistant devised a scheme to defraud multiple credit card companies through a bankruptcy filing as a means to fund a real estate purchase. The pair structured the fraudulent proceeds through multiple banks to disguise the funds' origins. Although the…
In a case initiated based on the filing of SARs, a bank manager pled guilty to a nine-year fraud scheme to steal over a quarter of a million dollars from accounts of customers, including the bank manager’s sister, identified by the bank manager as individuals or businesses that would not miss…
Six people were convicted and sentenced for their involvement in a $12 million money laundering scheme. The scheme involved the wire transfers of drug proceeds to South American countries for the benefit of drug cartels.
The defendants deposited drug proceeds into more than 50 bank…
Two suspects, a husband and wife, had been corresponding with individuals in Nigeria for several months concerning a transfer of $30 million from Nigeria to their bank account. The suspects, skeptical of the promises made by the foreign philanthropist, performed their own investigation via the…