WASHINGTON – The Pentagon inspector general’s chief investigator of procurement fraud and official misconduct quietly resigned last month and pleaded guilty to structuring cash transactions through his Pentagon FCU account.
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Richard Race, 61, admitted in federal court that he made deposits at the credit union on three days last year that were aimed at skirting the Currency Transaction Reporting requirements of the Bank Secrecy Act by structuring a cash deposit of $20,000 in three separate transactions: two for $9,000 and one for $2,000. The cash was legitimate earnings from the sale of a car.
Under a plea agreement, Rice pleaded guilty to one count of structuring cash transactions to evade reporting requirements and forfeited the $20,000.
