CEDAR RAPIDS, Iowa (AP) - An eastern Iowa gun business and its owner have been punished for illegally structuring business transactions in order to avoid federal financial reporting requirements.
Federal prosecutors say Michael Gabriel LLC, of Williamsburg, on Wednesday was given a year of probation, fined $20,000, and ordered to forfeit nearly $375,000.
Michael Gabriel, acting on behalf of Michael Gabriel LLC, admitted in a plea agreement that company personnel structured the transactions so no bank deposits over $10,000 were made between January 2007 and September 2010. Deposits in excess of $10,000 must be reported to federal authorities.
- Repealing Obamacare: Trump says fast, Congress says slow
- Monday closings due to weather
- Tomah police asking for help following morning high-speed chase
- US Rep. Pocan says he won't attend Trump inauguration
- Local activists hold "Save Our Healthcare" rally
- Local bar burglarized
- More than a dozen cell towers may go up in La Crosse
- Potential suicide spike in La Crosse County
- UPDATE: Suspect charged in Trempealeau County fatal crash
- Area youth group helps prepare for fundraiser