U.S. Department
of Justice
Press Release
Franklinton Man Charged with Structuring Over $100,000 in Financial Transactions to Avoid Federal Reporting Requirements
For Immediate Release
U.S. Attorney's Office, Eastern District of Louisiana
U.S. Attorney Kenneth A. Polite announced that JERRY COX, age 72, of Franklinton, was charged in a one-count Bill of Information with structuring financial transactions to avoid federal reporting requirements.
According to the Bill of Information, in September 2011, COX made, and caused to be made, a series of cash withdrawals from Citizens Savings Bank and Resource Bank that were designed to evade certain reporting requirements under federal law. COX did so as part of a pattern of activity involving more than $100,000 in a twelve-month period. Specifically, COX caused a series of seven withdrawals between September 20, 2011 and October 11, 2011, in amounts between $7,650 and $9,500.
If convicted, COX faces a maximum term of not more than ten years in prison, followed by up to three years of supervised release, and a $250,000 fine.
U.S. Attorney Polite reiterated that the Bill of Information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.
U.S. Attorney Polite praised the work of the Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation in investigating this matter. Assistant United States Attorney Jordan Ginsberg is in charge of the prosecution.
Updated September 1, 2015
Component