SEC Charges Eleven in Stock Manipulation Ring

[scion]

The obvious questions that spring to mind are, "Why was he paid such a large sum, $10,000.00, to ferry the money to Delaware?" and, "Why was a bank transfer or a check not used instead?"

It avoided the "designated reporting transaction" reqirement, but it also transported the cash across State lines which probably results in other potential charges.

Once can't say he knowingly paid a man $10,000 to drive laundered money cross country without any idea where it came from.

When banks are required to report on an individual transaction, it does not mean that the government is suddenly going to take an interest in someone. A bank has to file a Currency Transaction Report on any transaction or transactions in currency (read: cash) that exceed $10,000 made by or on behalf of the same person on any one business day. Transactions not made in cash do not require the filing of a Currency Transaction Report.
http://www.bankingquestions.com/accounts/q_transover10k.html

FAQs regarding Reporting Cash Payments of Over $10,000 (Form 8300)
http://www.irs.gov/businesses/small/article/0,,id=148821,00.html