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ABC News: Spitzer, Not the Prostitution Ring, Was the Subject of Investigation | 70 comments (70 topical)

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the statutes (none / 0) (#32)
by Jeralyn on Mon Mar 10, 2008 at 08:08:36 PM EST
here's the statute on structuring and the regs are here, here and here.

[ Parent ]
The amount is not that important (none / 0) (#33)
by Randinho on Mon Mar 10, 2008 at 08:35:44 PM EST
I believe the intent is what's important. When I worked at ASCAP, I dealt with a radio station owner who owed money to an alleged drug dealer that IIRC was in excess of 60K. I believe the debt was paid in periodic installments ranging from 5K to 9K.

The radio station owner pled guilty to structuring, was fined and spent a couple of years on probation.

I agree with Jeralyn that they're probably using this to pry a plea on the Mann Act violations. He should resign. Now.

[ Parent ]

The regs: (none / 0) (#34)
by Peter G on Mon Mar 10, 2008 at 08:39:38 PM EST
All your links are for statutes, TL.  The regs are here.  A "suspicious transaction" is defined in the regs, and can be for as little as $5000, even though the reporting threshold is "more than" $10,000 (i.e., contrary to common belief, a cash transaction of exactly $10,000 is not reportable to IRS.  Banks are required to file reports on "suspicious" transactions, as defined.  Others, such as retailers, car dealers, professionals, etc., are merely encouraged to do so.

[ Parent ]
thanks Peter (none / 0) (#36)
by Jeralyn on Mon Mar 10, 2008 at 08:41:31 PM EST
appreciate the regs links. I'm typing too fast.

[ Parent ]
as peter g points out below (none / 0) (#38)
by Jeralyn on Mon Mar 10, 2008 at 08:43:19 PM EST
the regs are here. My links were all to statutes.

[ Parent ]

ABC News: Spitzer, Not the Prostitution Ring, Was the Subject of Investigation | 70 comments (70 topical)

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