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Fernandez ordered to forfeit close to $100,000

February 17, 2012

Amy Fernandez has to hand over close to $100,000 as part of a plea deal for illegally structuring monetary transactions to avoid federal reporting requirements.
On Monday February 13, 2012, U.S. District Judge Mary Lou Robinson stated Amy Fernandez is required to pay $99,950 to the government after her sentencing.
In November, Fernandez pleaded guilty for one count of evading the reporting requirements and the regulations issued thereunder, structure, attempt to structure, and attempted to assist in structuring currency transactions with one or more domestic financial institutions.
In the criminal complaint, filed in U.S. District Court for the Northern District of Texas (Amarillo Division), Fernandez allegedly structured, attempted to structure, and attempted to assist in structuring currency transactions with one or more domestic financial institutions, by purchasing 39 cashier’s checks with United States currency in amounts of $3,000 or less.
In the probable cause section of the complaint, it states that in March of 2010, Fernandez paid off a debt of $402,673.98 to the Texas State Comptroller in Amarillo. The debt was owed by Frank’s Floor Covering, a business owned and operated by her husband Frank.
Records obtained from the Texas State Comptroller show that Fernandez purchased 37 separate cashier checks in the amount of $3,000 or less to pay towards this balance. Because federal reporting requirements require that any cashier’s check over $3,000 be reported, $3,000 represents the maximum allowable amount to avoid reporting requirements.
Of the checks purchased by Fernandez, 24 of these checks were purchased on six separate days with one check each from four separate domestic leading institutions, which were Happy State Bank, Wells-Fargo, Amarillo National Bank, and Borger Federal Credit Union.
Fernandez faces up to five years in prison with a fine not to exceed $250,000 and three-year supervised release.

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