Structuring Conviction Leads To Six-Month Suspension

A criminal conviction drew a six-month suspension by the New Jersey Supreme Court.

As described by the Disciplinary Review Board

On May 7, 2015, a grand jury for the DNJ returned a two count indictment against respondent. Count one, to which he pleaded guilty, charged that respondent caused banks where he held accounts to fail to file a currency transaction report (CTR), in violation of 31U.S.C. § 5324(a)(i). Count two charged respondent with “structuring” multiple bank deposits in increments under $10,000 to avoid the federal reporting requirements, in violation of 31U.S.C. § 5324(a)(3).

He pled guilty to Count Two.

respondent pleaded guilty to structuring, accepted full responsibility for his wrongdoing, and received no payment or commission from the structuring.

(Mike Frisch)