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U.S. v. PRP RESTAURANT, INC.

No. 10 Civ. 1866(BMC).

802 F.Supp.2d 451 (2011)

UNITED STATES of America, Plaintiff, v. SIXTY-ONE THOUSAND NINE HUNDRED DOLLARS AND NO CENTS ($61,900.00) SEIZED FROM ACCOUNT NUMBER XXXXXX4429 HELD IN THE NAME OF PRP RESTAURANT, INC., at TD Bank, N.A. Located in Astoria, New York, and All Proceeds Traceable Thereto, Five Hundred Eighty-Seven Thousand Five Hundred Thirty-Six Dollars and Forty-Five Cents ($587,536.45) Seized from Account Number XXX-X7872 Held in the Name of PRP Restaurant, Inc., at Merrill Lynch Pierce Fenner & Smith, Located In New York, New York and All Proceeds Traceable Thereto, and Two Hundred Thirty Thousand Four Hundred Dollars and No Cents ($230,400.00) Seized from Account Number XXX-X7A80 Held in the Name of Robert Potenza, at Merrill Lynch Pierce Fenner & Smith, Located in New York, New York and All Proceeds Traceable Thereto, Defendants.

United States District Court, E.D. New York.

August 15, 2011.

Attorney(s) appearing for the Case

Brian D. Morris, United States Attorneys Office, Eastern District of New York, for Plaintiff.

Sean F. O'Shea, O'Shea Partners LLP, for Defendants.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

COGAN, District Judge.

The Government instituted this action to seize funds that were purportedly involved in "structured" transactions. Federal law requires domestic financial institutions to file a currency transaction report ("CTR") for any cash transaction in an amount greater than $10,000. 31 U.S.C. § 5313(a). The law applies to individuals as they may not break up transactions in order to "cause a...

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