How is that illegal?
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There is a $10,000 limit on cash transfers. Above that amount the banks have to report it. He skirted that law by transferring in smaller amounts but totaling $3,500,000.
That’s against the law - for some reason.
Charging someone with violating that law, just for violating that law is incredulous!
This law was put in place to track illegal things, for someone to decide to do something legal with their own money should NEVER result in them being charged with a crime!
The FBI coming to ask him what it was for, and then finding out it was not for anything illegal should have been the end of it. This is an absolute abuse of the law.
you would think intent should be factored in but its not. This needs be a 2 step law. Evading reporting limits in the execution of an illegal act. Not just taking out cash in a manner the govt doesn’t approve of.
That’s against the law - for some reason.
There would also be gift tax considerations...........