Millstadt’s Kreher Pleads Guilty to $200K Structuring Scheme

GRIMY TIMES EXCLUSIVE: Dean R. Kreher, 51, of Millstadt, Illinois, has copped to two counts of Structuring Financial Transactions to Avoid Currency Transaction Reports, according to the United States Attorney for the Southern District of Illinois, Donald S. Boyce.

The 51-year-old faces a heavy penalty: up to 10 years in the slammer, a half-million-dollar fine, and three years of supervised release. Kreher’s sentencing is set for March 24, 2017.

In his plea deal, Kreher confessed to shuffling over $200,000 in cash transactions to sidestep reporting requirements on transactions exceeding $10,000. His manipulations involved a complex web of business entities like K&K Subs, Inc., DRK Properties, and various accounts at Scott Credit Union.

Some of the ill-gotten gains were funneled into Windoor, a window and door company in Belleville, IL, where Kreher held a partnership. The IRS/Criminal Investigations and FBI spearheaded the investigation that led to this conviction.

The prosecution is being handled by Assistant United States Attorney Norman R. Smith. Kreher’s guilty plea leaves little doubt he’s on track for a lengthy prison term.

This case serves as another stark reminder of the lengths some will go to avoid scrutiny in the financial world. Stay tuned to Grimy Times for more updates on this grim tale of white-collar deceit.