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Feds Seize $841,883 from Used Car Dealer Accused of--Well, Nothing
| Feds Seize $841,883 from Used Car Dealer Accused of--Well, Nothing [message #100111] |
Mon, 29 July 2013 10:40 |
CyberkNight
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Registered: July 2012
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Reza Ella, an Iranian-American who owns a car dealership in Albuquerque, New Mexico, may or may not be a criminal. Federal prosecutors don't know or won't say. But last September, they seized $841,883 from Ella anyway because the man deposited it in increments of less than $10,000.
Anyone depositing more than $10,000 in the bank has to file a report with the Department of the Treasury--because terrorism/drugs. Making deposits of less than $10,000 so as to avoid filing said reports--called "structuring"--is illegal and can trigger asset forfeiture whether or not there is any underlying criminal activity.
Full article: http://reason.com/blog/2013/07/28/feds-attempt-to-seize-8418 83-from-used-c
Megalextoria
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