State News

Couple accused of avoiding cash reporting rules

by AP posted Dec 27 2012 12:26PM
      RICHMOND, Va. (AP) - A Powhatan couple faces federal charges of structuring more than $4.6 million in cash transactions to avoid federal reporting requirements.
     Fifty-five-year-old Loveleen Khare and 50-year-old Jayant Khare are scheduled to appear in U.S. District Court in Richmond on Thursday.
     A federal information charges both with conspiracy to structure currency transactions.
     Federal law requires banks to report cash transactions in excess of $10,000 to the U.S. Department of the Treasury.
     The  couple is accused of using multiple bank accounts to avoid the reporting requirement. Federal authorities say the money likely came from cigarette trafficking.
     Loveleen Khare's lawyer, William J. Dinkin, declined to comment.
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Location : RichmondVirginia
12/27/2012 12:26PM
Couple accused of avoiding cash reporting rules
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