KENT HOVIND v. ROBERT BATY (A Summary)
Kent Hovind Says:
– Structuring requires 2 or more transactions
– of $10,000 or less,
– on the same day,
– that total more than $10,000.
Robert Baty Says:
– A person structures a transaction if that person,
– acting alone, or in conjunction with, or on behalf
– of, other persons, conducts or attempts to conduct
– one or more transactions in currency, in any amount,
– at one or more financial institutions, on one or more
– days, in any manner, for the purpose of evading the
– reporting requirements…
– “In any manner” includes, but is not limited to, the
– breaking down of a single sum of currency exceeding
– $10,000 into smaller sums, including sums at or below
– $10,000, or the conduct of a transaction, or series of
– currency transactions, including transactions at or
– below $10,000.
– The transaction or transactions need not exceed the
– $10,000 reporting threshold at any single financial
– institution on any single day in order to constitute
– structuring within the meaning of this definition.