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January 5, 2005 PLEASANT HILL COUPLE INDICTED FOR STRUCTURING CURRENCY TRANSACTION According to the indictment, between October 25, 2001 and February 20, 2002, the defendants structured currency transactions on six occasions with Citibank Federal Savings Bank for the purpose of evading the lawful reporting requirements. Furthermore, the indictment also charges Yogesh Gandhi with structuring currency transactions on or about May, 29, 30 and 31, 2002, and June 1, 3, 4 and 5, 2002, with Washington Mutual Bank, also for the purpose of evading the lawful reporting requirements. The Gandhis were arrested this morning at their residence in Pleasant Hill, California by special agents from IRS Criminal Investigation, Immigration and Customs Enforcement and the Drug Enforcement Administration. The Gandhis will be arraigned tomorrow morning in Oakland by U.S. Magistrate Judge Wayne Brazil. Each defendant was released on bond. The maximum statutory penalty for each count of structuring currency transactions in violation of Title 31 U.S.C. § 5324(a)(3) is five years imprisonment and a fine of $250,000 plus restitution. An indictment simply contains allegations against an individual and, as with all defendants, Yogesh K. Gandhi and Kristi M. Gandhi must be presumed innocent unless and until convicted. The prosecution is the result of an investigation by special agents of the Internal Revenue Service; U.S. Immigration & Customs Enforcement, and the Drug Enforcement Administration. Thomas Moore is the Assistant U.S. Attorney who is prosecuting the case with the assistance of legal technician Kathy Tat. A copy of this press release and related court filings may be found on the U.S. Attorney’s Office’s website at www.usdoj.gov/usao/can. Related court documents and information may be found on the U.S. District Court website at www.cand.uscourts.gov or on http://pacer.psc.uscourts.gov. All press inquiries to the U.S. Attorney’s Office should be directed to Cynthia Caporizzo at (415) 436-6740. ### |
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