A guy faces more than 30 years in prison for depositing money in the bank
An attorney had over $200,000 in cash from years of working for clients that paid in cash. He finally decided he wanted to deposit the money in the bank…
Gaskins, a Raleigh criminal defense lawyer, was convicted of dividing large sums of money into small deposits so that his bank would not fulfill an Internal Revenue Service requirement to report cash transactions of more than $10,000. The rule is intended to flag large sums of cash that might be tied to illegal activity.
Oh, OK, so I guess he got busted on trying to evade paying taxes on the money he earned… Oh wait:
Gaskins filed forms to the IRS accounting for more than $450,000 in cash payments, according to evidence at trial. Prosecutors agreed that he had filed and paid his taxes.
Prosecutors did not offer evidence of any other motive for Gaskins’ behavior. They said at trial that Gaskins should have known better.
“The point of the law is to make sure we don’t have people who try to fool the bank,” federal prosecutor Randall Galyon told jurors last week. “The fact that he was trying is against the law.”
Wow…
