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Four charged federally in separate tax evasion cases - The Grand Island Independent: Local News

Thursday, May 28, 2015

Four charged federally in separate tax evasion cases

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Posted: Thursday, January 24, 2013 8:31 pm | Updated: 10:54 pm, Thu Jan 24, 2013.

Four Nebraskans have been charged in federal court with attempting to manipulate bank procedures.

Three men and a woman, two of whom are from Grand Island, were charged in multiple-count indictments for structuring financial transactions in an effort to defeat legal reporting requirements imposed on financial institutions. Structuring refers to the manipulation of cash transactions for the purpose of preventing a financial institution from filing certain reports. The purpose of the law prohibiting structured deposits is to help identify suspicious cash transactions that might be indicative of other criminal activity. A person engaged in structuring might break up a cache of currency in excess of $10,000 into multiple deposits for the purpose of keeping the institution from filing the required report, according to a release from the U.S. attorney’s office.

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