Dubuque Woman Admits to $89K Cash Shuffle

CEDAR RAPIDS, IA – Janet E. Malone, 68, of Dubuque, Iowa, copped a plea in federal court yesterday, admitting she deliberately diced up cash deposits to skirt federal reporting laws. The scheme, totaling $89,100.00, is a classic move for those trying to hide money from the feds – and it backfired spectacularly.

According to court documents, Malone pled guilty to one misdemeanor count of willful violation of an anti-structuring regulation. The transactions involved 12 separate deposits, meticulously crafted to stay just under the $10,000 reporting threshold. This isn’t some accidental oversight; it’s a calculated attempt to fly under the radar, a tactic favored by those with something to hide.

What makes this case particularly galling is the prior warning. IRS agents reportedly confronted Malone’s husband, in her presence, a year prior to the illicit deposits, explicitly outlining the illegality of structuring. Yet, Malone proceeded anyway, demonstrating a brazen disregard for the law. It’s a clear signal she knew exactly what she was doing.

Assistant United States Attorney Matthew J. Cole is prosecuting the case, with the investigation spearheaded by the Internal Revenue Service. They’ve been digging into the details, piecing together the evidence that led to Malone’s admission. This isn’t just about the money; it’s about accountability and sending a message that financial manipulation won’t be tolerated.

Sentencing is pending the completion of a presentence report, and will be determined by United States District Court Magistrate Judge Jon S. Scoles. Malone remains free on bond for now, but faces a potential maximum sentence of less than one year in prison, a hefty $100,000.00 fine, $25.00 in special assessments, and up to a year of supervised release. A slap on the wrist, perhaps, but a conviction nonetheless.

Court file information can be found at https://ecf.iand.uscourts.gov/cgi-bin/login.pl (case file number 15-CR-01006). Follow the U.S. Attorney’s Office for the Northern District of Iowa on Twitter: @USAO_NDIA. This case serves as a reminder that the IRS is watching, and attempts to dodge financial reporting requirements will ultimately be exposed.