United States of America v. Matthew A. Zayas

Miami, Florida criminal defense lawyer represented the Defendant charged with three counts of money laundering and one count of causing or attempting to cause a domestic financial institution to fail to file a currency transaction report under 31 U.S.C. § 5324(a)(1).



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The Fifth Amendment provides that "[n]o person shall be

held to answer for a . . . crime, unless on a presentment or indict-

ment of a grand jury.” U.S. Const., amend. V. "A fundamental

principle” stemming from the Fifth Amendment is that "a defend-

ant can only be convicted for a crime charged in the indictment.”

Ward, 486 F.3d at 1226 (quoting United States v. Keller, 916 F.2d 628,

632–33 (11th Cir. 1990)).



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31 U.S.C. § 5324(a)(1) prohibits individuals from structuring transactions to evade federal reporting requirements. Specifically, it makes it illegal to cause or attempt to cause a domestic financial institution to fail to file a report required under 31 U.S.C. § 5313(a) or 5325, or any related regulations. This section is part of the Bank Secrecy Act (BSA) and is designed to prevent money laundering and other financial crimes.

Key points about 31 U.S.C. § 5324(a)(1):



Prohibition: It prohibits structuring transactions to evade reporting requirements.



Structuring: This refers to breaking down a large transaction into smaller transactions to avoid the reporting threshold (usually $10,000 for cash transactions).



Financial Institutions: The law applies to domestic financial institutions.



Reporting Requirements: It targets the evasion of reporting requirements mandated by sections 5313(a) and 5325 of Title 31, which relate to the reporting of large cash transactions.

Purpose of Evasion: The law requires the government to prove the individual acted with the intent to evade the reporting requirements.



Example: Imagine someone depositing $15,000 in cash into a bank account. If, instead of making one deposit of $15,000, they make two deposits of $7,500 each on the same day at the same bank, they might be attempting to evade the reporting requirement of § 5313(a). 31 U.S.C. § 5324(a)(1) would prohibit this activity.

In relation to the Bank Secrecy Act (BSA): This section is part of the BSA, which aims to combat money laundering and other financial crimes by requiring financial institutions to report certain transactions.

Penalties: Violations of 31 U.S.C. § 5324 can result in significant penalties, including fines and imprisonment.

The Defendant was found guilty