By NEMS Daily Journal
BELDEN – Pam J. Robinson of Belden was indicted recently on 15 federal counts she evaded bank deposit reporting requirements.
Robinson, 56, has not yet faced formal charges on her Feb. 24 sealed indictment.
Banks generally are required to report to the Internal Revenue Service any transaction in currency that exceeds $10,000.
During 2008, she is accused of “structuring” 15 bank deposits under $10,000 at two different north Mississippi banks.
“Structuring,” according to bankquestions.com, means splitting deposits up into smaller deposits, in attempts to disguise reportable transactions or to otherwise prevent a financial institution from filing a report.
If convicted on all charges, she faces up to five years in prison and $250,000 fine.