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Justice News

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

Thursday, March 12, 2015

Former Logan County Assessor sentenced for federal banking law violation

Rick Grimmett admits to more than $366,000 in structured cash transactions

Charleston, – United States Attorney Booth Goodwin announced that Russell R. Grimmett, also known as Rick Grimmett, 51, of Man, West Virginia, was sentenced today to five years’ federal probation, including six months of home confinement, for violating federal banking laws.  Grimmett is the former Logan County assessor.  The sentence was handed down by United States District Judge Thomas E. Johnston.

Banks are required by federal law to report all cash transactions in excess of $10,000.  Grimmett admitted that he and an associate withdrew cash from the Logan Bank and Trust in Man, West Virginia, in amounts less than $10,000 to prevent triggering the reporting requirement.  This practice, known as “structuring,” is a federal crime.   Grimmett further admitted that between early 2009 and December 2012, he and his associate structured more than $366,000 in cash from various banks.

As part of his plea agreement, Mr. Grimmett agreed to resign his position as assessor.   He also agreed to forfeit $150,000.

Today’s charge stems from an investigation conducted by the FBI, IRS Criminal Investigation, United States Postal Inspection Service, and the West Virginia State Police.  Assistant United States Attorney Meredith George Thomas is handling the prosecution.

Updated February 4, 2016