Santa Ana – September 2 2011, Lan Nhu Ngo, owner of Stop & Shop, Inc., located in Santa Ana, pleaded guilty to structuring her cash deposits at a Garden Grove bank.
Lan Nhu Ngo, 48, pleaded guilty to one count of structuring her cash deposits at a Garden Grove branch of Hanmi Bank. Ngo admitted that she structured her deposits to evade currency reporting requirements.
According to the plea agreement, from January 1, 2009 through July 30, 2010, Ngo made 158 cash deposits in exact amounts of $10,000 and 53 deposits between the amounts of $9,000 and $9,900. The structured deposits totaled $2,082,500 in currency.
Lan Nhu Ngo was previously indicted on January 5, 2011.
“Structuring your bank deposits to evade currency reporting requirements is a Bank Secrecy Act crime that is taken seriously by the IRS,” said Joel P. Garland, Acting Special Agent in Charge for the IRS-Criminal Investigation, Los Angeles Field Office. “If you structure your deposits and you are caught by the IRS, you will face the consequences.”
The statutory maximum sentence is five years imprisonment; a three year period of supervised release; a fine of $259,000 or twice the gross gain or loss resulting from the offense, whichever is greatest; and a mandatory special assessment of $100.
The investigation of Lan Nhu Ngo was conducted by IRS – Criminal Investigation and the United States Attorney’s Office in Los Angeles.
United States Attorney’s Office Contact: Jennifer Waier (714) 338-3550