Posted on 11/18/2003 4:23:09 PM PST by scarface367
Radio talk show host Rush Limbaugh may have violated state money-laundering laws in the way he handled the money he used to buy the prescription drugs to which he was addicted, law enforcement officials in Florida and New York told ABCNEWS.
A conviction on such charges in Florida would be a first-degree felony, punishable by up to 30 years in prison.
Limbaugh returned to the airwaves this week after five weeks of rehabilitation for his admitted addiction to prescription painkillers.
His lawyer denied today there was any foundation for a money-laundering prosecution.
"There's no basis for these charges. He has not committed any acts of money laundering and he absolutely denies it," lawyer Roy Black told ABCNEWS. "I can assure you — and Rush assures the listeners to his radio station — when we can, we will tell the story, and he will tell it himself. Everybody will see what has really gone on here."
Limbaugh makes an estimated $35 million a year and had no shortage of legally earned money to the buy the painkillers to which he became addicted.
Authorities say they became aware two years ago, during an investigation of New York bank US Trust, that Limbaugh had taken between 30 and 40 cash withdrawals from his account in amounts just under $10,000.
Banks must file a report to the government if someone withdraws more than $10,000 at once.
Limbaugh's lawyers confirm that as part of US Trust's service, a bank employee personally delivered cash to Limbaugh at his New York studio in amounts of $9,900 or so.
"That in itself is a suspicious activity: They are structuring their transaction to avoid reporting to the government, and the bank is required to file with the federal government something called a suspicious activity report," said Jack Blum, an expert on financial crimes.
Limbaugh's lawyers say it was US Trust that suggested the arrangement. In July 2001 the bank paid a $10 million fine because of the Limbaugh transactions and many others like it.
Limbaugh's name was not made public at the time but officials told ABCNEWS details were forwarded to state and federal investigators in Florida.
"Now the problem will be: Did he then assist his drug supplier in hiding the proceeds from the government?" said Blum.
Limbaugh's lawyers say he did not do that and that he is being falsely accused by those who want to force him off the air.
Officials say a decision on whether to prosecute on money-laundering charges will be made in the next few weeks.
Why should the "law" be applied any differently to him?
Get a freaking grip, Shermy.
God bless America. < /sarcasm >
All of a sudden the Patriot Act isn't just about terrorists anymore
"...That's the part that Attorney General John Ashcroft does not talk much about as he tours the country touting the powers the Patriot Act has given the federal government to fight terrorism."We have used these tools to save innocent American lives," Ashcroft told a convention of law officers at the federal courthouse in Las Vegas back in August. "We have used these tools to provide the security that ensures liberty."
He neglected to mention how, even as he spoke, Las Vegas FBI agents were using those "tools" to go after a strip club owner and the politicians he allegedly paid off.
It turns out that Section 314 of the Patriot Act allows federal investigators wider leeway in obtaining financial information from stockbrokers, banks and other financial institutions on people "suspected, based on credible evidence, of engaging in terrorist acts or money laundering."
Pay close attention to that last phrase, "or money laundering." Ah, what legal power that little word "or" contains. Thanks to that teeny but mighty conjunction, the Patriot Act is not limited to money laundering that is linked to suspected terrorist acts but to any suspected money laundering.
"The Patriot Act was not meant to be just for terrorism," Department of Justice spokesman Mark Corallo told a reporter.
Now they tell us. ...
Hey, does the law say report cash movement to the Gov for less than $10,000?
Give that man a silver dollar for having the first post that has the usual Libertarian buzz(no pun intended) word, WOD.
That caught my eye too. Either the limit is $10,000 or it's not. How far below $10,000 is below the threshold of suspicion?
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