Posted on 05/15/2015 3:46:56 PM PDT by Brad from Tennessee
After months of sleepless nights since having more than $107,700 seized by the Internal Revenue Service, L&M Convenience Mart owner Lyndon McLellan learned yesterday the government decided to dismiss the case that lost him his money.
Its a relief to know that youre getting something back thats yours to start with, McLellan told The Daily Signal. I wanted [the government] to do what was right, and I felt what was right was for me to get my money back.
According to documents filed with the U.S. District Court for the Eastern District of North Carolina yesterday, U.S. Attorney Thomas Walker cited changes to the Department of Justices policy regarding civil asset forfeiture made in March as the reason for dropping the lawsuit against the $107,702.66 seized from McLellans bank account in July.
Were thrilled that the government has recognized that what they were doing to Lyndon was wrong and that theyve dropped the attempt to forfeit Lyndons money, Robert Johnson, a lawyer at the Institute for Justice who represents McLellan, told The Daily Signal. This case was a mistake and unconstitutional from the start, and were just glad the government has recognized that.
(Excerpt) Read more at dailysignal.com ...
Thanks.
The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.
Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.
http://en.wikipedia.org/wiki/Bank_Secrecy_Act
They should pay the same interest and penalties that the IRS charges....
Lots of businesses by happenstance deposit amounts under $10,000 and are not violating the law in any way or fashion. Yet they are treated as criminals as if they are intentionally trying to hide money from prying eyes. The government is not out to prevent money laundering, they're out to acquire funding in any way possible for their own nefarious uses to continue their bullying of the public.
That was the case here in Fraser, MI. The market owner was taking the cash across the street and depositing it into his store's account on a regular basis because his insurance would only cover $10,000 if he was robbed........
The IRS got wind of it and seized his account......
I say we put a few of them in the hospital drinking their food from straws.
But that's just me I guess.
“Yep, I’m a cynic when it comes to government.”
Anyone who is NOT a cynic when it comes to government is very, very foolish.
I agree. Our freedoms are being eroded away one degree at a time just like the frog in the pot of slowly heated water. It seems that every law that comes out of federal and state govts is about taking liberty or freedom, or adding surveillance or new criminal statutes or pc crimes for something. I don’t see any effort to expand actual freedom. Cynicism is a requirement.
Yes, Ye Olde “Handling Fee.” Buckin fastards.
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