Ex-WV Assessor Grimmett Gets Probation for $366K Scheme

CHARLESTON, W.Va. – A former public official is facing the consequences for a brazen attempt to skirt federal banking laws. Russell R. Grimmett, 51, also known as Rick Grimmett, of Man, West Virginia, received a five-year federal probation sentence today, including six months of home confinement, after admitting to structuring cash transactions to avoid federal reporting requirements. The sentence was handed down by United States District Judge Thomas E. Johnston.

Grimmett, formerly the Logan County assessor, didn’t just dip a toe into illegal activity; he dove headfirst. The feds say he and an accomplice systematically withdrew cash – in amounts deliberately kept under $10,000 – from the Logan Bank and Trust in Man, West Virginia. Why? Because banks are legally obligated to report any single cash transaction exceeding that amount. This calculated maneuver, known as “structuring,” is a felony.

The scope of the scheme is staggering. Between early 2009 and December 2012, Grimmett and his associate allegedly laundered more than $366,000 through this method, hitting multiple banks to stay below the reporting threshold. This wasn’t a one-time slip-up; it was a sustained, deliberate effort to conceal the movement of a substantial amount of money.

The jig was up, however. As part of a plea agreement, Grimmett agreed to resign from his position as Logan County assessor – a clear admission of guilt and an attempt to mitigate the fallout. He also agreed to forfeit a hefty $150,000, a fraction of the total sum he attempted to hide, but a significant penalty nonetheless. The loss of his position and the financial hit are likely to sting far more than the home confinement.

This case wasn’t cracked by luck. The investigation was a joint effort by the FBI, IRS Criminal Investigation, United States Postal Inspection Service, and the West Virginia State Police, demonstrating a coordinated push to tackle financial crimes in the state. Assistant United States Attorney Meredith George Thomas is prosecuting the case, ensuring that those who attempt to game the system face justice.

While Grimmett avoided a prison sentence, five years of federal probation – and six months locked down at home – sends a clear message: attempting to evade federal banking laws will have serious repercussions. This case underscores the importance of vigilant oversight and the collaborative efforts of law enforcement agencies to combat financial wrongdoing, even at the local level.