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Bonney Lake man sentenced for illegal currency transactions
Scott Haymond, 43, of Bonney Lake, was sentenced Wednesday in U.S. District Court in Seattle to six months of home detention, three years of probation and a $5,000 fine for structuring currency transactions.
Haymond also forfeits to the government $268,800, a sum of money equal to the amount of structured currency transactions.
At sentencing, U.S. District Judge Ricardo S. Martinez told him, “There is so much stuff smelling here, there has to be a fire. You have been involved in much more nefarious activity than putting money in your bank account.”
Judge Martinez said he would not impose prison time in this case for the simple reason that government investigators “have not been able to catch you dirty.”
According to the plea agreement, in September 2005, Haymond made 28 different deposits into six different banks or branches of the same bank in amounts between $9,000 and $9,900. Those deposits totaled $268,800 – the amount Haymond is now forfeiting to the government.
In November of 2006, Haymond again made a series of structured deposits: 19 deposits between $9,000 and $9,900 at 13 different banks or bank branches. Those deposits totaled $185,000.
In all, government investigators estimated that Haymond structured the deposits on some $604,000 in cash. Federal law requires banks to file currency transaction reports on cash deposits of more than $10,000. Haymond admits in his plea agreement dated April 2, 2008, that he structured the deposits so there would be no currency transaction reports.
Investigators for U.S. Immigration and Customs Enforcement (ICE) were unable to determine the source of much of the cash. Haymond’s attorney claimed he was keeping the cash in a shoe box at home for a rainy day.
The judge dismissed that explanation.
“I do believe you are a very sophisticated businessman,” the judge said. “I don’t buy that you are going to keep the extensive amount of cash in a shoe box.”
Judge Martinez went on to note a “theme of concealment, of not telling the whole truth,” in Haymond’s dealings with the court.