So, every single small business owner who makes nightly deposits less than $10,000 is a criminal??????
I think we are missing part of the story. The guy may not have had the proper cash register receipts/accounting to prove where the money came from. This has been the case for similar stories.
That’s because they treat everyone with cash as if they are laundering money - this government that rules us
Try to make a large deposit or withdrawal
This man deserves better treatment by his government, our government
Making small deposits isn’t illegal. Structuring is.
No. The problem here is multiple, closely spaced ALL CASH deposits that seem to be kept under $10,000.00 to avoid the reporting requirements.
Here’s the rub: had he not taken the advice he claims to have received from the bank, filled out the paper work and made the over $10k all cash deposits, he would have been investigated but ultimately found to be acquiring the money legitimately.
His “crime” was structuring the deposits. His co-conspirator in the crime seems to be the bank who gave him this advice. Of course, there is no written record because Mr. Oh says the advice was given orally. Maybe it did or maybe it didn’t. Sometimes, the accusation of an attempt to evade is true.
Total confiscation of the deposit seems unjust in this case. However, there has to be some penalty for attempting to evade the law even for an otherwise legitimate business owner.
The law does have a valid purpose in identifying attempts to avoid taxes or criminal money laundering attempts. Here is the IRS webpage on it:
Forget that presumption of innocence thing.. This is the ‘new normal’ Obammy bragged about and Dems and Pubs codified into our statutes.
Actually, it’s just more of the same old tired crap.
A Big Gubamint that sanction these type of actions is our biggest enemy. An unfettered ruthless one is our ultimate destructor.
Under our system of laws and regulations, every single small business owner who makes nightly deposits less than $10,000 is a criminal. It's just a matter of waiting for the government to decide whether you are politically inconvenient enough to prosecute.
Trump could do a lot to reverse this, but he'll have to fight the Socialist Left and the Chamber of Cronies hard to accomplish anything lasting and positive.