Bilal Haidari, age 26, and Yamen Haidari, age 23, both from St. Anthony Village, were both charged with one count of conspiracy to structure currency transactions, one count of currency structuring, and two counts of evasion of reporting requirements in relation to the export of monetary instruments.

The grand jury alleged in the indictment that from December 2000 to January 2003, Bilal and Yamen Haidari structured more than $1.5 million in currency deposits and structured the purchase of more than $22,000 in cashier’s checks through eight bank accounts they controlled at two TCF branches in the St. Anthony Village area, all in an attempt to avoid reporting requirements.

It was alleged in the indictment that during the conspiracy the Haidari brothers opened eight bank accounts at TCF and began making substantial deposits.  In some cases, the Haidaris would structure currency deposits by making deposits to several accounts in a short time period, with no one deposit exceeding $10,000, which would have required TCF to file a currency transaction report. On other occasions, the Haidaris are alleged to have structured currency deposits by simply taking currency back from the teller when they realized that they had presented more than $10,000 in currency for deposit.  From December 2000 through January 2003, the Haidari brothers allegedly made 33 deposits of no more than $9,000 into the eight bank accounts; the deposits totaling more than $1.8 million.

The grand jury also alleged in the indictment that in June 2002, Bilal Haidari and Yamen Haidari sent a $13,000 bank check to Lebanon without filing a report of International Transportation of Currency, and that in December 2002, the Haidaris sent six TCF official checks in amounts under $10,000 to Lebanaon in an allegedly attempt to evade the filing of a Report of International Transportation of Currency.

If convicted, Bilal and Yamen Haidari both face a maximum potential penalty of five years in prison and/or a $250,000 fine on each count for which they were charged.  Any sentence would be determined by a judge based on the federal sentencing guidelines.

The case is the result of an investigation by the Internal Revenue Service, Criminal Investigation and is being prosecuted by Assistant United States Attorney David J. MacLaughlin.

Criminal indictments are only charges and not evidence of guilt. A defendant is presumed to be innocent unless and until proven guilty.