CHICAGO (AP) — A Chicago Fire Department marshal was convicted on federal charges of depositing around $350,000 in less than $10,000 increments at different financial institutions to evade banking-reporting requirements, the U.S. attorney’s office in Chicago said Thursday.
Jurors convicted Antuane King, 49, of two counts of structuring currency transactions as he made at least 37 deposits of less than $10,000, including at the Chicago Firefighters Credit Union. He faces a maximum of five years in prison on both counts when sentenced on June 12.
Neither the statement nor court documents explain the source of the nearly $350,000 that prosecutors say King deposited in seven financial institutions between 2015 and 2016. King, who has a real estate broker’s license, later combined the money to buy three homes in the Chicago area.
Under federal law, banks must flag and report deposits of more than $10,000 to the federal agents on the lookout for possible illegal funds. King wasn’t charged with illegally obtaining the money.
A spokesman for the Chicago Fire Department told the Chicago Sun-Times the department had been unaware of King’s conviction until they were contacted by a reporter. King could not be reached for comment.
King began working for the department in 1999 and made a $99,324 salary as a fire marshal, the newspaper reported.
