Unfortunately, the article states he did say he structured (deposited less than $10,000) because the bank told him to so he could avoid a lot of paperwork.
And then the bank reported him for "structuring" his deposits. Sounds like a set up.
The whole notion of “structuring” deposits as a crime is absolutely ludicrous!! That is a law which needs to be purged from our legal system forever.
Sure, if someone seems to be limiting the size of individual deposits, possibly to avoid reporting requirements, that may be a cause for “further investigation.” BUT, only evidence of actual CRIMINAL acts should matter at that point.
Depositing one’s own money, in any increments at all, should not be a crime. Only further evidence showing that the money is derived from any criminal acts should have anything to do with prosecuting or penalizing someone.
...Unfortunately, the article states he did say he structured (deposited less than $10,000) because the bank told him to so he could avoid a lot of paperwork...
The bank does the “paperwork.”
Structuring deposits shouldn’t be illegal. I can see it being a flag for further investigative attention, but not a crime itself.
Structuring deposits shouldn’t be illegal. I can see it being a flag for further investigative attention, but not a crime itself.