Used-car dealership pleads guilty in money case
Manassas-based Univision Auto, a used-car dealership that traded as Auto Trademark, pleaded guilty Friday in a money structuring case worth more than $1.78 million.
Univision was indicted in December by a federal grand jury in Virginia on charges of money structuring. The company's executives admitted to making structured cash deposits between Aug. 2009 and July 2010.
Financial institutions that receive a deposit or withdrawal in excess of $10,000 from a customer must report the transaction and customer's contact information to the Internal Revenue Service. Univision admitted that it "engaged in structuring cash deposits to avoid triggering the filing," according to a press release from the U.S. Attorney's Office for the Eastern District of Virginia, which prosecuted the case.
As part of the plea agreement, Univision Auto agreed to forfeit roughly $866,400.
| February 18, 2011; 5:19 PM ET
Categories: Dana Hedgpeth, From the Courthouse
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