Guilty as charged. Too bad the DOJ didn't as enthusiastically track the guns they criminally let the narco's purchase. I believe Stancil should be held accountable for his actions, but then again, so should Holder and the clown circus he leads.
*******************************************************************************************************************************http://www.justice.gov/usao/cae/news/do ... yPlea.html
United States Attorney Benjamin B. Wagner
Eastern District of California
Placerville Airplane Dealer Pleads Guilty To Hiding Financial Transactions
FOR IMMEDIATE RELEASE CONTACT: Lauren Horwood
February 16, 2012
PHONE: (916) 554-2706 www.usdoj.gov/usao/cae [email protected]
Docket #: 2:12-cr-00025 MCE
SACRAMENTO, Calif. — United States Attorney Benjamin B. Wagner announced that Stancil Enterprises Inc., a Placerville corporation that sold aircraft, pleaded guilty today to conspiracy to aid and abet structuring financial transactions. The guilty plea was entered before United States District Judge Morrison C. England Jr. Joseph Stancil, the owner and president of Stancil Enterprises, spoke on behalf of the company at the plea hearing, admitting the factual basis for the plea was accurate. As part of the plea, Stancil Enterprises agreed to forfeit $428,589 to the U.S. Government. Joseph Stancil and salesman Daniel Mathis were also charged with conspiracy to aid and abet structuring financial transactions.
Stancil Enterprises and its agents were required by federal law to report the receipt of cash in amounts exceeding $10,000 for a single transaction unless a bank was required to report the transaction on a Currency Transaction Report (relating to cash transactions of over $10,000 made for a single person or company in a single day).
According to the plea agreement, Stancil Enterprises sold multiple planes for cash in 2008 and 2009, to purchasers whom they believed to be Mexican, involving deposited cash they believed to be from illegal narcotics trafficking. The company and its agents knew that the buyers were structuring cash into the Stancil Enterprises account in increments of less than $10,000 in order to avoid federal cash transaction reporting requirements.
The company and its agents tracked deposits by these purchasers, requiring them to alert Stancil Enterprises of the deposits and which plane sales the deposits related to. Often the purchasers faxed cash deposit tickets to Stancil Enterprises as proof to ensure credit for the payment. They made deposits in such a way that the banks could not connect the transactions to a specific buyer or plane, and could not identify the individuals making the deposits or purchasing the planes, and therefore could not make a Currency Transaction Report for large cash transactions.
According to the plea agreement, in November 2009, an undercover agent with the Internal Revenue Service made contact with Joseph Stancil, stating that he wished to purchase a plane for his son with cash and asked for advice on how to accomplish that without having any reports filed on the cash transaction. Stancil’s response indicated that he understood that the fictional son was engaged in drug trafficking activity in Mexico, specifically marijuana. Stancil proceeded to advise the agent how “the Mexicans” did it, depositing cash in increments into Stancil Enterprises accounts. Stancil and the undercover agent proceeded into the office of Daniel Mathis, who advised the agent about Stancil Enterprises’ Form 8300 reporting requirement for such cash transactions. When Stancil asked how they got away with not reporting “the Mexicans,” Mathis advised that no one had ever “hassled” Stancil Enterprises about the issue. From September 2008 and through August 2009, Stancil Enterprises received $428,589.30 in structured funds for six planes, each with a separate buyer.
This case is the product of an extensive investigation by the Internal Revenue Service – Criminal Investigation and a Financial Crimes Task Force including the Sacramento Police Department and Sacramento County Sheriff’s Office. Assistant United States Attorney Jean M. Hobler is prosecuting the case.
United States Attorney Benjamin Wagner noted that Stancil Enterprises lost not just its profit but its investment in the planes. Wagner stated: “Selling to criminal elements and helping them conceal their cash is a losing proposition. Stancil Enterprises lost the planes to its customers and lost all of the payments for those planes through forfeiture to the United States, and put its employees and officers at risk of very significant time in prison. These crimes matter – doing business with drug dealers, from Mexico or anywhere else, enables these criminals to engage in dangerous criminal activity. We urge all businesses to review their own cash accounting practices and ensure that any suspicious cash transactions are reported according to the law.”
“The defendants knew that the buyers of the planes structured the cash deposits in order to avoid the reporting requirements,” said Marcus Williams, IRS-CI Special Agent in Charge. “Those who turn a blind eye to this kind of activity run the risk of having their assets seized. We hit them where it hurts - in their wallets.”
The defendant is scheduled to be sentenced by Judge England on March 8, 2012. The maximum sentence is $500,000. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.