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Bank of America which he rolled over into various accounts he
opened with Fidelity Investments.
Between January 19, 1988, and August 23, 1989, approximately
$596,736 in U.S. currency was deposited in five of petitioner's
bank accounts in the New York City metropolitan area, all in
amounts of less than $10,000. An indictment was filed against
petitioner on May 23, 1991, and a superseding indictment on
August 6, 1991. The superseding indictment charged petitioner
with: (1) Conspiracy to structure cash deposits into bank
accounts in the New York area for the purpose of avoiding Federal
currency transaction reporting requirements; (2) 22 substantive
structuring counts relating to approximately $1,026,855 in U. S.
currency deposited into various bank accounts during the period
January 19, 1988, through August 23, 1989, in violation of 31
U.S.C. sections 5324(3) and 5322(a) (1988); and (3) 10 counts
alleging violations of customs reporting requirements.
On January 9, 1992, petitioner entered into a plea agreement
whereby he agreed to plead guilty to 10 of the 22 substantive
structuring counts contained in the superseding indictment. In a
related civil proceeding, all funds on deposit in a number of
petitioner's accounts were forfeited to the United States
pursuant to 18 U.S.C. section 981 (1988 and Supp. II 1990). The
Consent Decree of Forfeiture and Order of Delivery in that
proceeding was issued on January 9, 1992. In the plea agreement,
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