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Justice News

Department of Justice
U.S. Attorney’s Office
Northern District of California

FOR IMMEDIATE RELEASE
Friday, October 7, 2016

Woodside Resident Sentenced To 31 Months In Prison For Structuring

SAN FRANCISCO, Calif. – Per Alftin was sentenced today to 31 months in prison, and ordered to pay a fine of $10,000, for structuring financial transactions to evade reporting requirements, announced United States Attorney Brian J. Stretch and Internal Revenue Service, Criminal Investigation, Special Agent in Charge Michael T. Batdorf. 

Alftin, 52, of Woodside, was charged in an Information with a single count of structuring financial transactions to evade reporting requirements, in violation of 31 U.S.C. § 5324(a)(3).  Alftin pleaded guilty to the charge on June 24, 2016.

According to the plea agreement, Alftin admitted skimming at least $1,493,500 in cash from the gross receipts of his business, Alftin Construction, and structuring his bank transactions to conceal his activities, between 2009 and 2012.  Alftin admitted knowing that banks have obligations to report certain cash transactions, and that he structured his banking in an effort to prevent such reports. 

The sentence was handed down by the Honorable Susan Illston, United States District Court Judge, in San Francisco.  In addition to the 31 month sentence and $10,000 fine, Alftin was sentenced to a one-year period of supervised release.  The defendant will begin serving the sentence on February 2, 2017.

Assistant US Attorney Michael G. Pitman is prosecuting the case. The prosecution is the result of an investigation by the Internal Revenue Service, Criminal Investigation.

Topic(s): 
Financial Fraud
Tax
Updated December 27, 2016