States Attorney's Office District of Connecticut
|March 26, 2010||
FORMER SOUTH WINDSOR RESIDENT WHO STRUCTURED CASH TRANSACTIONS IS SENTENCED
Nora R. Dannehy, United States Attorney for the District of Connecticut, announced that ROCKY DELMARO, 30, of Texas, formerly of South Windsor, was sentenced today by Senior United States District Judge Ellen Bree Burns in New Haven to two years of probation for structuring currency transactions. Judge Burns also ordered DELMARO to pay a fine in the amount of $5000. DELMARO pleaded guilty to the offense on January 7, 2010.
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 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.
In addition to the fine imposed today, DELMARO has forfeited $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.
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