Federal Forfieture Policy Nabs Small Business Owner For Regular Small Bank Deposits

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WhatInThe

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A small business/store owner in North Carolina had his bank account seized because he made regular deposits under 10,000 dollars which is known as structuring.

http://dailysignal.com/2015/05/11/t...bank-account-now-hes-fighting-to-get-it-back/

I'm all for catching criminals & terrorists but this is ridiculous as are many of the government forfeiture laws. To top it off if the feds knew anything about business or practices of a business that handle cash they would realize that they make routine deposits to avoid getting robbed or losing all their money as once. Banks are there for a reason including securing one's money. The bank should've realized he was a business owner and regular customer so I'm wondering why they reported him as well.

It should be noted that the AG changed federal seizure policy and this is not the only case of unjust seizures. There was also an update posted on the article saying he will get all his money back.
 

Banks have to report all cash deposits over $10,000. This is to stop money laundering from Drug money.. He did not break the law.. Why did the bank report him, and more importantly WHY did the feds step in if no law was broken? This is ridiculous.
 
My whole thing if the government thinks there is a crime taking place then investigate. But forfeiture or seizures take a huge leap from POSSIBLE crime to the punishment phase without an actual investigation & trial. They miss a few steps to say the least.

If they had investigated this store owner they would've discovered exactly that, he was a store owner.
 

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