Miami Lakes Resident Sentenced for Structuring and Causing the Filing of False Currency Transaction Reports

A Miami Lakes resident was sentenced to 24 months in prison, followed by two years of supervised release, and was ordered to forfeit $595,500 and to pay a fine of $6,000 for structuring and causing the filing of false currency transaction reports.

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and Kelly R Jackson, Special Agent in Charge, Internal Revenue Service, Criminal Investigation (IRS-CI), made the announcement.

Jorge R. Raynaud, 31, previously pled guilty to thirty-one counts, including five counts of structuring currency transactions with the intent to evade reporting requirements, in violation of Title 31, United States Code, Section 5324(a)(3), and twenty-six counts of causing and attempting to cause a financial institution to fail to file a currency transaction report, in violation of Title 31, United States Code, Section 5324(a)(1). As part of his plea agreement, Raynaud agreed to forfeit $595,500 in U.S. currency.

The Bank Secrecy Act requires financial institutions to file a currency transaction report with the Treasury Department for each financial transaction that involves currency in excess of $10,000.  According to court documents, Raynaud structured currency withdrawals at two different banks by intentionally arranging a series of separate transactions, each one involving less than $10,000, for the purpose of evading the $10,000 currency reporting requirement.  Raynaud also caused the banks to fail to file twenty-six currency transaction reports for currency withdrawals and the cashing of checks in 2012 and 2013.

The intended loss resulting from the offense is between $400,000 and $1,000,000.

Mr. Ferrer commended the investigative efforts of IRS-CI.  This case is being prosecuted by Assistant U.S. Attorney Elijah Levitt

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.