The company admitted guilt Dec. 1 to one count of structuring financial transactions with a financial institution in an attempt to evade the Currency Transaction Report reporting requirements, according to a news release from the U.S. Attorney’s Office.
According to court documents, Discover Motors opened a business checking account Fifth Third Bank in 1989, which remained open until at least December 2009, into which David Wilson, acting on behalf of Discover Motors, made currency deposits into this account.
In 2000, Wilson and another individual opened a personal checking account at Fifth Third Bank. Wilson made 10 deposits between July and August 2009 of cash generated through the Discover Motors business into the personal checking account, all below the reporting threshhold in order to avoid the currency reporting requirements, according to the U.S. Attorney’s Office.
The company “accepted and acknowledged that it is responsible for the criminal acts of structuring,” according to the release.
A representative of Discover Motors was not able to be reached for comment Wednesday night about the case.
According to the U.S. Attorney’s Office, Hamilton police detectives were part of a financial investigative task force that investigated the case along with the IRS and U.S. Secret Service.