If You're Running A Huge Ecstasy Operation, Please Report It To The Feds
A man with the unlikely name of Dong Dang Huynh got some bad news this morning: He was sentenced to 22 years in a federal prison. Oh, and he also has to forfeit $24 million in ill-gotten gains.
Why? He didn't file the proper paperwork for all the money he was moving around to finance an ecstasy-importing ring. Man, a simple paperwork oversight like that and he gets 22 years? One of his office managers must be in real trouble. You just can't good help nowadays.
Huynh (that's how the feds are spelling it; we're asking for confirmation) was convicted earlier this year of "conspiring to commit money laundering concealment, eight counts of violating the money laundering spending statute and for failing to file Currency Transaction Reports," the U.S. Attorney's office says.
He would move huge amounts of money about, to Canada and California, and then send it to Vietnam disguised as funds being sent back home by ex-pats.
It was all under the guise of a company called U.S. Tours. Sayeth the feds:
In order to accomplish the laundering scheme, Huynh and an employee at his direction accepted large cash deposits from particular individuals, including funds demonstrated at trial to be profits from the sale of narcotics, without obtaining identification or filing CTRs.
Deposits from these "special customers" sometimes reached amounts as large as $500,000 cash in a single transaction. Huynh further instructed his employee to: break down the large deposits into sums less than $3,000, assign fictitious names to the smaller deposits and create and maintain false receipts for the broken down amounts in the event U.S. Tours was to be audited or examined by the IRS or the Texas Department of Banking.
Sounds like a plan! A bad one, as it turned out.
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