St. Louis Area Man Sentenced on Charges of Financial Structuring
JUN 03 - (ST. LOUIS, MO) - The United States Attorney’s Office announced today that Loren Ramsey was sentenced to six months imprisonment, $6,000 fine and 3 years supervised release on a charge of financial structuring. He will also be required to forfeit money and property derived from the criminal activity.
Between December 2005 and December 2008, Ramsey structured approximately $843,547 in cash. The plea agreement lists 136 deposits, all under $10,000, to evade IRS reporting requirements.
Loren Ramsey, 71, St. Louis, MO, 63111, pleaded guilty in February to one felony count of structuring transactions to evade reporting requirements. Additionally, Ramsey agreed to forfeit the property derived from the criminal activity. Subject to forfeiture is approximately $843,547; one property located in Murphysboro, IL; one property located on California Street, St. Louis; and approximately $34,887.95 U.S. currency which represents the proceeds of the sale of an additional property. He appeared today for sentencing before United States District Judge Rodney W. Sippel.
This case was investigated by the Drug Enforcement Administration and Internal Revenue Service Criminal Investigation.