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Widow faces federal charges because she deposited inheritance money in lumps
policestateusa.com / by Site Staff in News / February 10, 2015
DUBUQUE, IA — A widow’s bank account was seized by the IRS and she now faces criminal charges for depositing her legal inheritance money in lumps instead of all together.
Janet Malone, 68, had $18,775 seized from her — money that was legally earned and was legally bestowed to her by her late husband, Ronald Malone. The problem, according to the government, was the fact that she deposited it in several lumps instead of all at once.
According to the Associated Press, Mrs. Malone deposited the cash in increments between $5,800 and $9,000. The widow’s private financial affairs evidently set off red flags under the watchful gaze of the federal government.
The IRS sought out and obtained a warrant in 2013 to seize Mrs. Malone’s bank account based on suspicion that the transactions were sized in strategic amounts meant to avoid federal reporting requirements, which take place on transactions valued at $10,000 or more. The crime is referred to as “structuring” one’s deposits.
Police State USA described this offensive law in a previous article:
The post Widow faces federal charges because she deposited inheritance money in lumps appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/02/12/widow-faces-federal-charges-because-she-deposited-inheritance-money-in-lumps/
