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Justice News

Department of Justice
U.S. Attorney’s Office
Southern District of Illinois

FOR IMMEDIATE RELEASE
Friday, March 24, 2017

Former Milstadt Business Owner Sentenced to Prison for Illegal Structuring

 

Dean Kreher, 51, of Milstadt, Illinois, was sentenced to two months in prison followed by three years supervised release as a result of his conviction for two counts of structuring financial transactions to avoid cash transaction reports, the United States Attorney for the Southern District of Illinois, Donald S. Boyce, announced today.

Financial institutions are required by federal law to report cash transactions that exceed $10,000. It is illegal to structure financial transactions in smaller amounts with the purpose of causing a financial institution to fail to file a cash transaction report. Dean Kreher’s conviction is the result of structuring cash deposits into multiple financial transactions at multiple financial institutions totaling over $230,000.

The prosecution is the result of an investigation by the Internal Revenue Service/Criminal Investigations. The case was prosecuted by Assistant United States Attorney Norman R. Smith.

Topic(s): 
Financial Fraud
Updated March 24, 2017