United States Attorney Rebecca A. Gregory
Eastern District of Texas
FOR IMMEDIATE RELEASE CONTACT: Donna Krise
WEDNESDAY, JUNE 26, 2008 ACTING PUBLIC INFORMATION OFFICER
www.usdoj.gov/usao/txe PHONE: (936) 639-4003
PHARMACIST PLEADS GUILTY AND RECEIVES TERM OF PROBATION FOR "STRUCTURING" CHARGES
(BEAUMONT, TX) United States Attorney Rebecca A. Gregory announced today that a Conroe, Texas Pharmacist has pleaded guilty and was sentenced to probation today for charges of structuring of currency transactions in the Eastern District of Texas.
MARTIN L. RAABE, 56, a pharmacist associated with a pain management clinic operating in Orange, Texas, admitted to his involvement in structuring currency transactions. "Structuring" generally involves making multiple cash transactions in amounts less than $10,000.00 at multiple banks or different branches of the same bank during the same day or consecutive days for the purpose of avoiding the requirement of a Currency Transaction Report (CTR). Financial institutions are required to file a CTR with the Internal Revenue Service for deposits, withdrawals, or other transactions involving cash or currency in excess of $10,000.00. Raabe made at least twenty deposits into a checking account in cash amounts of $10,000.00, or slightly under $10,000.00. These deposits were often broken up into two or three deposits, and were made within a short time frame. From June 30, 2005 through October 16, 2006, Raabe made cash deposits totaling $158,345.00 in this manner. Raabe entered a guilty plea and was sentenced today during an appearance before United States District Judge Marcia Crone. Raabe was sentenced to a one year term of probation, and was ordered to pay a fine in the amount of $4000.00. As part of his agreement with the Government, Raabe was also ordered to forfeit approximately $72,350.00.
This case was investigated by the Internal Revenue Service, Criminal Investigation Division, and was prosecuted by Assistant United States Attorney Robert Rawls.
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