Posted on 05/29/2015 8:48:45 AM PDT by SeekAndFind
The facts surrounding the indictment of former House Speaker Dennis Hastert are vague and suggestive. He is being charged with several currency violations and one count of lying to federal investigators.
The currency violations are the result of withdrawals from several bank accounts by Hastert over a two year period that exceeded the $10,000 limit on withdrawals which that needed to be reported under the law. Much of that cash apparently went to one individual in order to cover up "prior misconduct" by Hastert dating back to his time as a teacher and wrestling coach.
In 2010, confronted about the “prior misconduct,” the former speaker agreed to pay $3.5 million to the person “to compensate for and conceal his prior misconduct against Individual A,” prosecutors alleged.
That person, whose identity was shielded by prosecutors, has known Hastert most of his or her life, growing up in Yorkville, the city next to Hastert’s home town of Plano, in the exurbs west of Chicago. Prosecutors said the actions “occurred years earlier” than the 2010 meeting that sparked the payments.
The investigation began in 2013, by the FBI and the Internal Revenue Service, which cited “possible structuring of currency transactions to avoid the reporting requirements.”
Neither Hastert nor his legal team responded to requests for comment on the charges.
Hastert, an easygoing Midwesterner by nature, had a public persona closely linked to his career as a wrestling coach, something he cited in late 2007 in his final speech on the House floor.
(Excerpt) Read more at americanthinker.com ...
What??? I though "structuring" involved bank transactions of just UNDER $10K with the intent of evading the reporting requirements which kick in on transactions of $10K or more.
the story isn’t well written. he made several withdrawls above the 10k limit and when questioned by bank officials, which they are required to do, he immediately began making <10k withdrawls from then on. it’s the “from then on” part that is illegal
It is a message to all sitting and retired politicians from the Department of Social Justice.
Yep
If Hastart didn't own up to something in his past and paid hush money instead, he's not the "victim".
This gives credence to our suspicions that many in the DC crowd are being blackmailed. I think at this point we'd forgive just about anything except voting against the Constitutional Conservative issues that got them elected or appointed (in the case of Roberts).
Typical politician...he thought the rules didn’t apply to him.
Let's assume the worst, that it's a Sandusky type case. The victim gets a lawyer, who contacts Hastert and his atty. A settlement is agreed to, and paid, and it's sealed...no public disclosure..one assume's both sides want that.
Also, a civil settlement is INCOME TAX FREE to the recipient. This way, the "blackmailer" is now stuck for taxes on the money he received.
Pretty dumb all the way around...
That's what I assumed when I first heard the story. Looks like he should have just kept taking out more than $10K and just told the bank it was for personal reasons.
An underage student teacher relationship is the most logical explanation for a $3.5 million dollar pay off.
Denny Hastert was a crook when he was Speaker of the House. Years ago I saw a whole documentary on good old Denny where he used his position to get a road built through some property he owned so he could sell it for a nice profit. He no doubt got blackmailed for some criminal activity. You can’t blackmail an innocent person.
I’m guessing that Hastert is the victim of a black DOJ.
And Lois Lerner is free as a bird.
Well, not *all* of them, of course.
Sealed agreements can get leaked by a 3rd party. Just ask Jack Ryan or Bill O'Reilly.
I can understand that making lots of cash deposits under $10k can raise suspicion of tax evasion, but withdrawals? I don't think either activity, especially withdrawals, is actually "illegal".
What if you get diagnosed with some disease, and are given a year to live. Can't you start withdrawing wads of cash and go live it up at a casino and squeeze in a little fun with your hard-earned savings while you're on your way out? Is that illegal now?
The over $10,000 deposit or withdrawal in cash would cause to generate a CTR and possibly an SAR. Structuring would cause to generate an SAR.
Sandusky didn’t just pay money.
He is in prison.
Properly so.
“Currency violations.” In America. How far we have fallen.
SO, he violated the law that says it is illegal for you to use your money without the government knowing why you are using your money, for what is is for, and how they can track it.
Nice freedom we have here.
Actually, the serious charge is that he lied to investigators about what was going on.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.