The war on cash and small business

[VMI77]

http://dailysignal.com/2015/05/11/the-i ... t-it-back/

The federal agents then showed McLellan paperwork that included deposits to the store’s account at Lumbee Guaranty Bank. The statements showed two deposits made within a 24-hour period totaling $11,400.

The statements, they said, indicated he had a history of consistent cash deposits of less than $10,000, which is illegal.

Then, the agents told the small business owner something that shook him to his core: The Internal Revenue Service had seized all of the money in L&M’s bank account: $107,702.66.

Though he didn’t know it at the time, McLellan committed structuring violations when making cash deposits of less than $10,000.

McLellan himself doesn’t handle the deposits—that’s his niece’s responsibility—and a bank teller had previously advised her to make deposits of less than that amount. If cash deposits totaled more than $10,000, the bank had to file additional paperwork, the teller said.

Well, at least there is "equal protection" under the law and John Corizine is in jail for stealing millions. Let that freedom ring.