Govt. prosecutor wants title to Newport Beach Murcielago

Interesting...

 

Is this proper procedure, or should we look for new "owner" rolling around SoCal?

 

http://blogs.ocweekly.com/navelgazing/2013...cielago_fbi.php

 

A federal prosecutor in Southern California is asking a judge to give the government title to a $175,000 Lamborghini Murcielago that police took from a man suspected of money laundering.

The 2006 sports car, which is registered to Lamborghini Newport Beach, was confiscated in February 2012 by the Irwindale Police Department whose officers made a traffic stop on the driver and then transferred the car to federal agents, according to court records.

 

Assistant United States Attorney Frank D. Kortum wants federal Judge Andrew J. Guilford to approve confiscation of the vehicle in an asset forfeiture move because government agents believe it was purchased illegally.

 

According to Kortum's court filing, after an initial $7,000 down payment, 17 payments were suspiciously deposited in multiple U.S. Bank branches on one day. Each of the payments was just under the $10,000 IRS reporting threshold and made in Huntington Beach, Costa Mesa, Downey, Norwalk, Maywood, Northridge, Reseda, Montebello, Van Nuys, Mission Viejo, Panorama City, Granada Hills and Burbank.

 

To aid law enforcement detection of potential criminal activities, banks are required to notify the government of deposits greater than $10,000, but financial institutions also alert officials when they believe someone is attempting to circumvent the threshold trigger.

 

Guilford has not scheduled any hearings in the case inside Orange County's Ronald Reagan Federal Courthouse, but similar cases are often directed to a court-approved alternative dispute resolution panel for resolution.

 

Nobody has filed an opposition to the asset forfeiture request.

 

In 2010, versions of the expensive sports vehicle were recalled for a faulty fuel system that increased chances of a fire.

 

Let us know if you see your local federal bureaucrat driving a Lamborghini to lunch in coming weeks.

 

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Email: [email protected]. Twitter: @RScottMoxley.

I am not sure how I feel about the Bank going above and beyond and notifying the government if they feel someone is trying to circumvent the rules.

I am not sure how I feel about the Bank going above and beyond and notifying the government if they feel someone is trying to circumvent the rules.

 

I'm just curious how it works if it's all not convicted. Are they just taking it on a hunch?

I am not sure how I feel about the Bank going above and beyond and notifying the government if they feel someone is trying to circumvent the rules.

Banks are obligated to.. Any cash transaction over $10000 has to be reported to the feds.. Oddly any transaction close to $10000 or suspicious of anyone trying to avoid the rule, the Bank has to file a suspicious transaction report..

 

 

Banks are obligated to.. Any cash transaction over $10000 has to be reported to the feds.. Oddly any transaction close to $10000 or suspicious of anyone trying to avoid the rule, the Bank has to file a suspicious transaction report..

 

I knew the 10k rule but I didn't know the other part. That makes more sense. I was worried they were doing this because they felt the "need' too.

 

Let's say I just bought a pallet of ammo. I wouldn't want the UPS man calling the local PD telling them he just dropped off a ton of ammo at my place because he felt the "need" too.

I knew the 10k rule but I didn't know the other part. That makes more sense. I was worried they were doing this because they felt the "need' too.

 

Let's say I just bought a pallet of ammo. I wouldn't want the UPS man calling the local PD telling them he just dropped off a ton of ammo at my place because he felt the "need" too.

 

Haven't you heard, whistleblowing is the in thing these days.

Interesting...

 

Is this proper procedure, or should we look for new "owner" rolling around SoCal?

 

http://blogs.ocweekly.com/navelgazing/2013...cielago_fbi.php

 

Poorly written article. Need a lot more facts... Preferably by somebody other than R. Scott Moxley.

Poorly written article. Need a lot more facts... Preferably by somebody other than R. Scott Moxley.

 

I'd say this is a pretty well written article for OC Weekly standards.

Depositing money like that is called "structuring", its money laundering. The car is history.

there's probably more to the story