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South Bay Resident’s Scheme to Illegally Structure Cash Deposits from Marijuana Sales Exposed
Steven J. Nemec, a 46-year-old resident of Santa Clara, California, has been sentenced to 57 months in prison for structuring cash transactions. He was ordered to forfeit $80,000 and serve 3 years of supervised release following his prison term.
According to his guilty plea, between November 14, 2012, and September 24, 2013, Nemec used seven bank accounts to structure 175 cash deposits, totaling $1,374,830. Nemec admitted that all of the cash deposits were made in amounts less than $10,000 in an effort to avoid scrutiny of his financial transactions.
Nemec also admitted that he knew the funds being deposited were the proceeds of illegal activity, specifically marijuana sales. Additionally, Nemec failed to report to the IRS the portion of the money that was his own income.
On March 29, 2016, a federal grand jury issued an indictment charging Nemec with 54 counts of structuring, in violation of 31 U.S.C. § 5324(a)(3). Pursuant to his guilty plea, Nemec pleaded guilty to all the counts.
Assistant U.S. Attorney Helen Gilbert is prosecuting this case with assistance from Ana Guerra and Linda Love. The prosecution is the result of an investigation by the Drug Enforcement Agency and Internal Revenue Service, Criminal Investigation.
The case was investigated and prosecuted by member agencies of the Organized Crime Drug Enforcement Task Force, a focused multi-agency, multi-jurisdictional task force investigating and prosecuting the most significant drug trafficking organizations throughout the United States.
Key Facts
- State: California
- Category: Drug Trafficking|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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