Case Study:
FOR IMMEDIATE RELEASE
Wednesday, May 14, 2014
Conway Business Owner Pleads Guilty To Structuring A Financial Transaction
LITTLE ROCK, AR Christopher R. Thyer, United States Attorney for the Eastern District of Arkansas; Christopher A. Henry, Special Agent in Charge of the IRS-Criminal Investigation Nashville Field Office; announced that Patrice Duncan, age 59, of Conway, pled guilty May 5, 2014, before United States District Judge Jay Moody. Duncan pled guilty to one count of structuring a financial transaction, of more than $10,000 in cash to evade the reporting requirements banks have to report to the United States Treasury when there is a cash deposit of more than $10,000.
Patrice Duncan was indicted by a federal grand jury on September 5, 2012, on 21 counts of structuring financial transactions. She pled to Count 21 of the Indictment. The remaining counts against Duncan were dismissed. Patrice Duncan is one of the owners of Duncan Outdoor in Conway.
In September and October 2011, an undercover (UC) agent of the IRS-Criminal Investigations went to Duncan Outdoor and purchased a motorcycle with cash. The undercover agent, who was wearing a recording device, discussed paying in cash so that the bank and government would not know of the transaction. Patrice Duncan was recorded discussing with the UC agent that she would not deposit all the money at one time so that the bank wouldn’t fill out the forms that document transactions over $10,000.
Hire a writer to get plagiarism free assignment answers of this question
In your last journal entry for this week, address the following questions in 2-3 paragraphs, integrating the knowledge you have gained during this week:
BSA Court Case
Read the indictment and press releases below and write a journal post describing the crime charged in the indictment. In your post:
- define structuring
- discuss which BSA forms would be related to the case
- summarize how those forms are relevant to the investigation and why
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