Kenneth Rijock

Kenneth Rijock

Wednesday, January 4, 2012

EUROPEAN FRAUDSTERS OPERATING IN USA BULK CASH SMUGGLED THEIR ILLICIT PROFITS HOME

A gang of Eurothugs*, defrauding online purchasers of automobiles in the US of an estimated $4m, have been charged** with a number of offences, including bulk cash smuggling and stucturing. Their method was to accept orders for cars, create bogus documents, accept payment, but never deliver the vehicles. They used more than 110 bank accounts to structure $9900.00 withdrawals, and purchase money orders for $2800 each, to avoid reporting requirements.

One bulk cash smuggling attempt alone involved $1,089,300 in cash. The charges;
(1) Money Laundering
(2) Bank Fraud
(3) Wire Fraud
(4) Structuring
(5) Manufacturing False Documents
(6) Bulk Cash Smuggling

Purchasing an automobile online, from individuals who are not established and known dealers,  has now become a high-risk exercise.
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* The organisation's members came from Germany, Russia, Romania and Latvia.
**United States vs. Corneliu Stefan Weikum et al, Case No.: 10-cr-000579-GMN-RJJ (D Nev).

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