Chicago man convicted in illegal fund structuring of almost $350000

Chicago man convicted in illegal fund structuring of almost 0000

Antuane King, a Chicago man, has been convicted by a federal jury for illegally structuring nearly $350000. King illegally structured the amount in cash deposits. According to the court documents, he structured the funds illegally in order to evade federal reporting requirements. The federal jury found him guilty in the case.

According to the court documents, King made 37 deposits of less than $10000 in 2015 and 2016 at seven financial institutions. He made deposits of less than $10000 at the Chicago Firefighters Credit Union as well. He structured the funds in order to evade federal reporting requirements. The US Department of Treasury must be notified by the financial institutions about the deposits of more than $10000.

According to the court documents, King purchased three residencies in Markham, Lynwood, and Homewood by combing all of these funds. He purchased these residencies after structuring the cash deposits illegally. King, a 49-year-old Chicago man, has been found guilty on two counts of structuring a currency transaction by a federal jury on Wednesday.

According to the US Sentencing Guidelines, each count is punishable for up to five years in federal prison. Jorge L. Alonso, a US District Judge, set sentencing for June 12, 2020.

John R. Lausch, Jr., the US attorney for the Northern District of Illinois, and Kathy A. Enstrom, the special agent-in-charge of the IRS Criminal Investigation’s Chicago Division, announced the conviction of King. Christopher V. Parente and Esther Mignanelli, the assistant US attorneys, represented the government in this case. King will be sentenced on June 12, 2020.

Managing editor of the Chicago Morning Star

Related Posts
Aspiring Artists Exhibition to be presented by Freeport Art Museum from Feb.28 to Apr. 2
The Freeport Art Museum has announced the Aspiring Artists Exhibition. According to the announcement, the
League of Women Voters of Freeport to host free, public program on Feb. 25
The League of Women Voters of Freeport is going to host a free and open-to-public
Rep. Mason helps to improve order of protection through introduction of new legislation
Legislation has been introduced by Rep. Joyce Mason, D-Gurnee, to improve the accessibility and efficiency
JJC Technical Department to host CAD competition on March 6
The Technical Department of the Junior Joliet College is going to organize the 2020 Regional
FBI Operation in Kankakee arrests 15 Central Illinois men
15 men from Central Illinois have been arrested by law enforcement officials over the weekend.
Pritzker delivers budget proposal to General Assembly, prioritizes children education
JB Pritzker, the governor of Illinois, has delivered a budget proposal to the General Assembly
Tri-State Tollway Bridge advances, massive beams to arrive this week
The massive concrete beams will be used for the Mile Long Bridge. The bridge is
Public housing authorities in US receive $2.7 billion from HUD
The US Department of Housing and Urban Development (HUD) has awarded $2.7 to the public
Palos Heights sales agent indicted on bribery conspiracy charges
Patrick J. Doherty, a 64-year-old Palos Heights man, has been indicted on the charges of
Naperville 911 (PSAP) extinguishes fire in single-family home in Proud Clarion Court
The Public Safety Answering Point (PSAP) of Naperville received an alarm about the fire in