Bakersfield business owner arrested for financial reporting crimes
Arrested on 3 counts of cash transactions
Last Updated: 88 days ago
BAKERSFIELD, Calif. -
A Bakersfield business owner was arrested for financial reporting crimes, said U.S. Attorney Benjamin Wagner.
Miguel Antonio Ruiz Jaramillo, 66, of Bakersfield, was arrested today after being indicted on Feb. 14, by a federal grand jury on three counts of structuring cash transactions.
According to the indictment, from Jan. 2010 through July 2012, Jaramillo cashed more than 50 checks from his gardening business at Valley Republic Bank in Bakersfield.
All the checks were $10,000 or less in order to prevent, or attempt to prevent, the bank from filing a Currency Transaction Report on those transactions. In 2010 and 2011, Jaramillo did not declare the structured cash payments on his federal tax returns.
"To purposely circumvent the federal laws within the Bank Secrecy Act and avoiding the filing of a CTR is a criminal violation that will be vigorously investigated by law enforcement" said Internal Revenue Service-Criminal Investigation Special Agent in Charge Jose M. Martinez.
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