Newsclipping summary:
FEAR-List Bulletin posted by Leon Felkins, February 22, 1998
The Friday edition of the Philadelphia Inquirer reports in an
article titled, "Car dealer found not guilty of conspiracy, laundering",
that while Abraham "Avi" Levy, a South Jersey used-car dealer, was found
not guilty of conspiracy and money laundering, his Magnolia business WAS
declared guilty of violating those financial laws.
Levy and his partner allegedly took more than $24,000 for the sale of two cars and deposited the money at Midlantic Bank in Lawnside in amounts below the federal cash-reporting limits ($10,000) which is called "structuring" and is illegal.
However, after a trial of more than 2 weeks, the jury could not reach a verdict on money structuring charges against Levy and his firm, and U.S. District Judge Jerome B. Simandle declared a mistrial on that allegation.
However, Judge Simandle instructed Levy to return to federal court on Monday for a forfeiture proceeding. The government is seeking to seize the inventory and assets of his business, Avi Auto Sales Inc. In these times, acquittal by a jury of your peers does not, by any means, mean that you are home free. The "forfeiture" proceedings are not likely to leave him feeling like a winner.
The Philadelphia Inquirer can be reached on line at:
Posted by Leon Felkins, 22 Feb., 1998.