Authorities Eye Whether Rush Limbaugh Laundered Money Used to Pay for Drugs

ABC News ^ | 11/19/03 | Brain Ross

[COURAGE]

Authorities Eye Whether Rush Limbaugh Laundered Money Used to Pay for Drugs By Brian Ross ABCNEWS.com Nov. 18— Radio talk show host Rush Limbaugh may have violated state money-laundering laws in the way he handled the money he used to buy the prescription drugs to which he was addicted, law enforcement officials in Florida and New York told ABCNEWS.

A conviction on such charges in Florida would be a first-degree felony, punishable by up to 30 years in prison. Limbaugh returned to the airwaves this week after five weeks of rehabilitation for his admitted addiction to prescription painkillers.

His lawyer denied today there was any foundation for a money-laundering prosecution.

"There's no basis for these charges. He has not committed any acts of money laundering and he absolutely denies it," lawyer Roy Black told ABCNEWS. "I can assure you — and Rush assures the listeners to his radio station — when we can, we will tell the story, and he will tell it himself. Everybody will see what has really gone on here."

Limbaugh makes an estimated $35 million a year and had no shortage of legally earned money to the buy the painkillers to which he became addicted.

Authorities say they became aware two years ago, during an investigation of New York bank US Trust, that Limbaugh had taken between 30 and 40 cash withdrawals from his account in amounts just under $10,000.

Banks must file a report to the government if someone withdraws more than $10,000 at once.

Limbaugh's lawyers confirm that as part of US Trust's service, a bank employee personally delivered cash to Limbaugh at his New York studio in amounts of $9,900 or so.

"That in itself is a suspicious activity: They are structuring their transaction to avoid reporting to the government, and the bank is required to file with the federal government something called a suspicious activity report," said Jack Blum, an expert on financial crimes.

Limbaugh's lawyers say it was US Trust that suggested the arrangement. In July 2001 the bank paid a $10 million fine because of the Limbaugh transactions and many others like it.

Limbaugh's name was not made public at the time but officials told ABCNEWS details were forwarded to state and federal investigators in Florida.

"Now the problem will be: Did he then assist his drug supplier in hiding the proceeds from the government?" said Blum.

Limbaugh's lawyers say he did not do that and that he is being falsely accused by those who want to force him off the air.

Officials say a decision on whether to prosecute on money-laundering charges will be made in the next few weeks

[DoctorMichael]

Rush addressed this in the first hour's opening monlog: "NOT TRUE".

[DeuceTraveler]

How many more attacks do you think people have lined up for him. Unfortunately for Rush, since he already broke the law his credibility is going to be low when it comes to crimes involving prescription drug abuse.

[PeteFromMontana]

Are you listening to Rush today? He dispels this as crap.

[BCrago66]

Duplicate post.

[grobdriver]

"That in itself is a suspicious activity: They are structuring their transaction to avoid reporting to the government, and the bank is required to file with the federal government something called a suspicious activity report," said screaming liberal Jack Blum, an expert on financial crimes.

[capydick]

How many more attacks do you think people have lined up for him.

There will be more and, they will come out right around election time. The goal of the mainstream media will be to make President Bush "guilty by association".

[jpthomas]

"That in itself is a suspicious activity: They are structuring their transaction to avoid reporting to the government, and the bank is required to file with the federal government something called a suspicious activity report," said Jack Blum, an expert on financial crimes.

I thought the Treasury Department squelched the "Know Your Customer" campaign after the uproar it created when it became public that your bank was being urged to rat on you at the behest of Uncle Sam.

[stuartcr]

Who would say otherwise?

[WinOne4TheGipper]

Someone should look into what exactly is going on. Three non- stories meant to damage Rush in a couple of months? I think someopne is trying to take Rush down.

[surrey]

And who could that someone be? Hmmmmmm, could HER initials be HRC???

[Moby Grape]

ABC NEWS ....wishing thinking presented as news....will they eat their words and correct what they have just done.?...probably not

[Bilbo Baggins]

Exactly what law did he break?

[MEGoody]

"Limbaugh had taken between 30 and 40 cash withdrawals from his account in amounts just under $10,000."

Over what period of time? For a person with his money, why would this be surprising?

[DoctorMichael]

"....wishful thinking...."

Rush sounded pretty confident in his denial to me.

[DeuceTraveler]

"Exactly what law did he break?"

If he had someone else buying prescription medication in her name for him I'm sure that's a breach of law. If he purchased and used more than he was supposed to I'm sure that falls under a drug abuse statute.

Other than that he might be squeaky clean, but because he now has a blemish he can be attacked easily.

[B Knotts]

So, let me get this straight. Sorting through the statements in this story, it appears that the bottom line is this:

If you withdraw more than $10,000 of your own money, the bank has to report it to the federal government.

If you withdraw less than $10,000 of your own money, the bank has to report it to the federal government.

Is that right?

Gotta love that War on Drugs.

[Bilbo Baggins]

Until he has formally been charged and a court has found him guilty of a crime then all the charges are alleged.

Don't say he is guilty unless that has happened.

[familyofman]

"Three non- stories meant to damage Rush in a couple of months? I think someopne is trying to take Rush down."
Non-stories? An entertainer using drugs is certainly a story, a TV announcer getting caned is a story, a public figure being under investigation (Jacko the wacko) is a story.
The person that has done the most in "trying to take Rush down" seems to be Rush himself. There is no liberal plot that caused him to do/say what he did. He alone should be responsible for his behavior.

[sirchtruth]

Because of "THE BANK SECURITY ACT" this stupid crap is coming about! This is all about the PAPER WORK banks have to do because someone withdraws or deposits cash! If the banks are advising costumers or not reporting that is their fault not Rush's...

Stupidassed, biased, croney, liberal press!

Gov't burockracy at it's finest!