States Attorney's Office District of Connecticut
|August 25, 2010||
CAR DEALER WHO FAILED TO REPORT CASH TRANSACTION IS SENTENCED
David B. Fein, United States Attorney for the District of Connecticut, announced that JOSEPH E. BROWN, SR., 61, of Moss Road, Monroe, was sentenced today by United States District Judge Christopher F. Droney in Hartford to two years of probation for failing to report a cash transaction. BROWN also was ordered to perform 100 hours of community service.
Under federal law, a business that is not a financial institution must report a currency transaction of more than $10,000 to the Financial Crimes Enforcement Network on an IRS Form 8300 within 15 days of the transaction.
According to court documents and statements made in court, on December 12, 2007, BROWN’s car dealership, Platinum Motors of Ansonia, sold a 2005 Chevrolet Silverado to an undercover special agent of the Internal Revenue Service – Criminal Investigation for $38,000 in cash. The agent told BROWN that he did not want any forms to be filed. BROWN told the undercover agent that the transaction would be recorded in Platinum Motors’ books to make it appear that the cost of the Silverado was to be paid over time, rather than upon delivery of the car. BROWN never filed the Form 8300.
On April 26, 2010, BROWN pleaded guilty to one count of structuring a currency transaction.
BROWN also has forfeited a 2006 Dodge Charger R/T and $5000 as part of a related civil proceeding.
This matter was investigated by Internal Revenue Service – Criminal Investigation. The case was prosecuted by Assistant United States Attorneys Calvin B. Kurimai and David X. Sullivan.
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