States Attorney's Office District of Connecticut
|January 7, 2010||
SOUTH WINDSOR MAN PLEADS GUILTY TO FEDERAL CASH STRUCTURING CHARGE
Nora R. Dannehy, United States Attorney for the District of Connecticut, announced that ROCKY DELMARO, 30, of South Windsor, waived his right to be indicted and pleaded guilty today before Senior United States District Ellen Bree Burns in New Haven to one count of currency structuring.
Federal law requires all financial institutions to file a Currency Transaction Report (CTR) for currency transactions that exceed $10,000. To evade the filing of a CTR, individuals will often structure their currency transactions so that no single transaction exceeds $10,000. Structuring involves the repeated depositing or withdrawal of amounts of cash less than the $10,000 limit, or the splitting of a cash transaction that exceeds $10,000 into smaller cash transactions in an effort to avoid the reporting requirements. Even if the funds are derived from a legitimate means, financial transactions conducted in this manner are still in violation of federal criminal law.
According to court documents and statements made in court, between August 8, 2007 and March 25, 2008, DELMARO made approximately 17 cash withdrawals and wrote approximately five business checks to family members in the total amount of more than $155,300 from an account he maintained at Webster Bank. DELMARO admitted that he withdrew the funds and wrote checks that were cashed in amounts less than $10,000 with the intent of causing the bank not to file the required CTRs with the Internal Revenue Service.
For example, on February 22, 2008, DELMARO made two cash withdrawals in the total amount of $19,400 from an account he maintained at Webster Bank. On that date, DELMARO withdrew $9,700 in cash from a Webster Bank branch in South Windsor and, less than one hour later, withdrew $9,700 from a branch in Vernon.
Judge Burns has scheduled sentencing for March 26, 2010, at which time DELMARO faces a maximum term of imprisonment of five years and a fine of up to $250,000. DELMARO also has agreed to forfeit $16,500 to the Government. The money was seized during the course of the investigation.
This case was investigated by the Internal Revenue Service – Criminal Investigation Division and is being prosecuted by Assistant United States Attorney James G. Genco.
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