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Oakmont Man Guilty of Structuring Cash Withdrawls
A 49-year-old Oakmont man has pleaded guilty to charges of structuring financial transactions in federal court. Louis Lammana, 49, of Oakmont, Pennsylvania, pleaded guilty to two counts before United States District Judge Arthur J. Schwab.
Lammana structured cash withdrawals in 2011 and 2013 in a manner designed to evade the reporting requirements of the various financial institutions. Over $157,000 was structured during those two time periods, with the bulk of the structuring occurring in 2013.
Assistant United States Attorneys Brendan T. Conway, Michael L. Ivory, and Michael A. Comber are prosecuting this case on behalf of the government. The Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation conducted the investigation that led to the prosecution of Louis Lammana.
Lammana’s guilty plea may have significant consequences for his financial future. Structuring financial transactions is a serious crime that can result in substantial fines and imprisonment. It is essential for individuals and businesses to understand the reporting requirements of financial institutions and to comply with them.
The case against Lammana serves as a reminder of the importance of financial transparency and compliance with reporting requirements. It also highlights the efforts of law enforcement agencies to prevent and investigate financial crimes.
Lammana’s sentencing is scheduled for October 3, 2016. He is currently free on bond, pending sentencing.
As a community, we must remain vigilant in preventing and reporting financial crimes. If you suspect someone of structuring financial transactions or any other financial crime, please contact the authorities immediately.
Key Facts
- State: Pennsylvania
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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