A North Carolina attorney has been convicted of trying to hide money from the IRS by divvying up large cash deposits into amounts that avoided federal alerts.
Multiple media outlets report defense attorney Johnny Gaskins was found guilty Friday of dividing $355,000 into deposits of less than $10,000 each, visiting multiple bank tellers at different branches. Banks must report deposits greater than $10,000.
Gaskins is free until sentencing in February.
The jury decided Gaskins can keep the money, earned between 2001 and 2006, because he reported the payments on tax forms and paid taxes on them.
Gaskins said he kept cash in a safe in his home, but after clients were robbed and killed in 2005, he feared for his safety. He said he didn't want any teller to know he had so much cash.
Copyright 2013 by The Associated Press. All Rights Reserved.
|County and Regional
News & Events
|Wayne County/Wilson County|