U.S. Attorney’s Office
December 17, 2015
Eastern District of Texas
Former Tyler, Texas Regions Bank Vice President and Trust Officer Admits to Structuring Transactions to Avoid Reporting Requirements
The Crime Involved Nine Transactions Totaling More Than $70,000.00
TYLER, TX—A 53 year old former vice-president and trust officer at Regions Bank in Tyler, Texas has pleaded guilty in federal court to structuring financial transactions to avoid reporting requirements announced U.S. Attorney John M. Bales today.
Carol D. Rushton appeared before U.S. Magistrate Judge Nicole Mitchell, waived grand jury indictment, and pleaded guilty to a one-count information today. According to the evidence presented at the plea hearing, Carol D. Rushton caused nine separate transactions of $10,000 or less, totaling $70,500.00, from November 3, 2010-August 15, 2012, at the Regions Bank in Tyler for the purposes of evading federal reporting requirements. Ms. Rushton admitted that she was aware that financial institutions are responsible for filing a Currency Transaction Report (CTR) with the Internal Revenue Service when a customer conducts a currency transaction (i.e., deposits, withdrawals, or purchases of cashier’s checks) in excess of $10,000.
Ms. Rushton is facing a maximum sentence of five years’ incarceration and a fine not to exceed $250,000.00. A sentencing hearing has not been set at this time.
This case was investigated by the Federal Bureau of Investigation, Tyler Office, and prosecuted by Assistant U.S. Attorney Jim Noble.