Trump funneling money thru a law firm in small increments to avoid detection would be legally catastrophic, according to a financial expert I just spoke to.
“If, according to Mr. Giuliani, Mr. Trump through his law firm structured payments to avoid reporting of disbursements $10,000 or greater, it would be against federal law, specifically the Bank Secrecy Act (BSA).”
“Financial institutions have a legal obligation to report such disbursements and have programs in place to identify such attempts to avoid the reporting."
The $10k figure is key. Payments above $10k are required to be reported to FinCEN by the banks. If it turns out that the Stormy payments were <$10k, it would show a deliberate attempt to subvert banking laws.
Oh boy, since the payment is over $100k they could be in huge trouble. FinCEN says structuring payments to avoid reporting requirements on payments above $100k, “can result in imprisonment for not more than” 10 years with a possible $500k fine. fincen.gov/sites/default/…
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