Rush Limbaugh Focus of Money Laundering Probe
By Jeralyn, Section Crime in the News
Posted on Tue Nov 18, 2003 at 11:06:40 PM EST
Tags: (all tags)
Posted on Tue Nov 18, 2003 at 11:06:40 PM EST
Tags: (all tags)
Authorities in Florida are looking into whether Rush Limbaugh violated state money laundering laws by repeatedly withdrawing amounts of $9,900.00 from his bank account, presumably to pay to his pill dealer.
His lawyers say Rush was acting on the advice of his bank, which has since paid millions in fines for its erroneous advice to Rush and others to withdraw sums in that amount. Amounts over $10,000.00 trigger a reporting requirement and Rush didn't file the reports.
Amounts close to $10,000.00 are viewed as suspicious because authorites surmise that the person engaging in the transaction is structuring it to avoid the reporting requirement. Under Florida state law, knowingly structuring transactions can amount to money laundering.
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