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…
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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…
The Federal Bureau of Investigation initiated a Material Support of Terrorism investigation based on a Suspicious Activity Report filed by a bank detailing a series of overseas financial transactions totaling millions of dollars. Two of the participants in these transactions were a United States…
A U.S. district judge sentenced a financial manager to 10 years in custody for using two financial institutions to launder funds from an embezzlement he orchestrated while working for an Indian tribal government entity receiving Federal funds. He was charged with stealing more than $180,000 over…
In a case initiated from the filing of a SAR, investigators found that a property owner under-reported his income for several years. All told, the defendant owed and did subsequently pay the Internal Revenue Service hundreds of thousands of dollars in back taxes, penalties, and interest. Six…
Jewelry Store Owner Fails to Report Large Cash Transaction,Structures Proceeds from Drug Trafficking
Case summary: A jewelry store owner who was previously convicted of laundering funds for drug dealers was caught again accepting currency from drug traffickers in exchange for jewelry. In a sting operation, the defendant accepted approximately $30,000 in cash from an undercover IRS agent in…