Dennis Hastert Charged with Structuring Bank withdrawals

[ann jusko]

When you hear that I've been indicted, you'll know how screwed up our system is. The money is technically mine but morally it's not. It's for my brother's care. His lawyer knew it was legal for him to "gift" us money. But it's NOT mine. It is in a non-interest account at my bank. The bankers know exactly what it's for. I have withdrawn $9,000 to pay for his care in a month that he needed extra care...not the usual care of an assisted living facility. They had to call in physical, speech, and medical therapists.

[John in Plano]

actually HEARD that the new number is 5 thousand dollars , whole thing is crazy , same as asset forfeiture because you have cash , imo .

Not true.

The law was explained already by a poster with first hand knowledge, even explained how less than $10,000 is reported.


https://www.ffiec.gov/bsa_aml_infobase/ ... LM_017.htm

and this is because of the insane income tax laws. Can't have somebody make a bunch of cash and not let Uncle Sam get his paws on a chunk.

[ralph]

to me all these rules on private property are BS JIP , that's all that it is about from my point of view !!

[planosteve]

In the aftermath of 9/11, Hastert was largely in favor of implementing the Patriot Act, which passed in the House of Representatives on Oct. 24, 2001, with a vote of 357 to 66.

In 2011, Haster took credit for passing the Act in the House, and told Real Clear Politics that passing the Act was not an easy task, because it “wasn’t popular, and there was a lot of fight in the Congress” over it.

The Huffington Post noted that the indictment “suggests that law enforcement officials relied on the Patriot Act’s expansion of bank reporting requirements to snare Hastert,” because it “increased the scope of cash reporting laws to help trace funds used for terrorism.”

[Red Oak]

Hoisted on his own petard ?

[planosteve]

How Hastert left Congress worth more than 4 million.
http://www.rawstory.com/2015/05/how-middle-class-dennis-hastert-left-congress-worth-more-than-4-million/