An alert financial institution, upon learning of negative information on potential clients, filed a SAR and notified Federal law enforcement officials of its findings. The ensuing investigation revealed that several subjects conducted a complex series of transactions, over a period of several…
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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…
Case summary: Two individuals, who frequented a tribal casino, operated a local escort service and conducted a prostitution business at the casino. Defendant A was often in the company of young females who would meet and then leave with males from the casino for short periods. Upon return to…
A federal judge has ordered more than 24 years of prison time for a former loan officer who was found guilty on all eight counts of an indictment charging conspiracy, bank fraud, wire fraud, and money laundering. Several financial institutions identified unusual transactions related to the…
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…
In May 2002, three (3) principals and the former treasurer of a group of metal trading companies were charged with conspiracy to commit bank fraud, mail fraud, and wire fraud in connection with a sophisticated international scheme to defraud banks worldwide of more than $600 million. The…
The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) has a case that involves multiple illegal activities taking place in a number of liquor stores. Violations include the sale of stolen firearms by a non-licensee, money laundering, contraband cigarette trafficking, violations of state…
An FBI agent proactively reviewing SARs identified a potential fraud scheme. However, as he dug deeper into the scheme, he learned the perpetrators of the crimes were in fact victims of yet another fraud based on high-yield investments. This second scheme led to a series of international…
In a case initiated from a SAR review team, a Federal government accountant pleaded guilty to theft of public money and money laundering. The case began when an alert bank noticed several unusual transactions, including large cash payments to credit card accounts. Activity in one account at the…
In a case involving dozens of defendants who orchestrated the importation and distribution of methamphetamine, BSA records helped investigators trace the flow of drug proceeds. The records, including Form 8300s and CTRs helped identify the cash purchase of a high-end automobile, and the flow of…