UTICA, N.Y. – The owner of a tobacco store on the Akwesasne Mohawk Reservation was ordered to forfeit $2.6 million and to serve 12 months home confinement for laundering more than $2.6 million of deposits in Seacomm FCU and Community Bank to evade Currency Transaction Reporting.
Rosalie Jacobs, 62, pleaded guilty to a conspiracy to structure a series of cash deposits in increments of less than $10,000 into her credit union and bank accounts to avoid federal reporting requirements.
During a 13-month period, Jacobs ran a business named Jacobs Tobacco on the Akwesasne Indian Reserve and received payments for tobacco products in U.S. currency. In an effort to avoid currency reporting requirements, Jacobs caused $2.6 million to be deposited in accounts held at Seacomm and at Community Bank, both located in Massena, with each deposit being intentionally in an amount less than $10,000.
For each transaction, Jacobs or one of her employees packaged the cash in separate bags at Jacobs Tobacco and then gave it to a person, who was instructed to make the deposits in the banks.
