Posted on 03/11/2008 7:06:44 AM PDT by KeyLargo
Spitzer and "structuring"
A helpful reader sends along the following information about the offense of "structuring", which federal investigators are reportedly looking at closely in connection with the Spitzer affair:
If Spitzer structured cash transactions to evade reporting requirements, he may be guilty of a felony. 31 U.S.C. 5324 prohibits certain actions by any person who acts with the purpose of evading the reporting requirements of Section 5313 (Currency Transaction Reports). The definition of structuring for purposes of currency transaction reporting is found at 31 C.F.R. 103.11(gg). The elements of the structuring regulations are:
A person acting alone, in conjunction with others, or on behalf of others, Conducts or attempts to conduct,
One or more transactions in currency,
In any amount,
At one or more financial institutions,
On one or more days,
For the purpose of evading the reporting requirements of 31 C.F.R. 103.22 (requiring CTRs).
The definition is specifically written to include those transactions which occur beyond a single business day and transactions which are conducted through more than one financial institution, but only if the purpose of the transaction(s) is to evade the reporting requirements.
The reader adds: "The IRS Manual on the BSA structuring provisions is here."
http://www.irs.gov/irm/part4/ch26s17.html
You think the Prikzer will high tail it down ol’ Meee’co way...the ho’s certainly will be more affordable...LOLs
Well, “structuring” sounds like a law that could be abused more than used appropriately, like RICO laws. On the other hand, it’s just the sort of law that Spitzer himself would abuse.
So I say go for it.
Is that real?
Follow the money.............
Spitzer is guilty of multiple felonies under these statutes;
My prediction is that he resigns as governor, loses his law license and does three to five in Club Fed.
Joe Bruno is laughing his head off.
I agree. This situation is somewhat similar to the BJ situation. BJ signed the law that allowed questioning about his sexual background. Instead of arguing for repeal of the bad law, BJ argued that lies about sex do not matter. I do not think that Spitzer signed the structuring law. However, he has probably used it creatively so he is getting his due.
Do you think he’ll go to jail? The only protection he has is that he’s a democrat. (certain highly privileged minorities get additional protection).
John Rowland went to prison for far less than what Spitzer did.
"Spitzer, who? I never met the man."
He didn't do either very well.
Excellent photo. Maybe SHE was the mystery brunette? HE paid HER $4,300 on Valentine’s day. SHE may have a double life also.
The nannies wrote these horrible cash-control laws to allow seizure of any amount of money, at any time, for any reason whatever. Now that we're catching them with their own honeypot, they may want to rethink the whole concept of currency laws while there's still a shred of Constitution left.
Pass the popcorn while we watch them fall!
They would have a FireWire interface, too.
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