Monday, July 29, 2013

Feds Seize $841,883 from Used Car Dealer Accused of—Well, Nothing

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: … e-841883-from-used-c

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