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