United States v. James Ralph Hoyland

James R. Hoyland appeals his conviction of structuring his bank deposits with the intent of preventing the bank from reporting a deposit of $10,000 or more, 31 U.S.C. § 5324 (3). In this case of first impression in this circuit, we affirm his conviction.

FACTS

The parties stipulated to the facts as follows:

JAMES HOYLAND is charged with having engaged in currency transactions in United States currency with various financial institutions in amounts less than $10,-000 in order to avoid the bank’s filing of a currency transaction report (CTR). He opened a bank account with the Bank of Newport on October 14, 1986 and began making deposits in amounts less than $10,-000 knowing the bank would not file a CTR. Mr. HOYLAND was told by bank employees and believed these transactions were legal, and in fact they were. At that time, there was nothing that prevented a bank customer from depositing sums of money less than $10,000 even if it was done with the intent of preventing a financial institution from filing a currency transaction report which would have been required if the deposit had been more than $10,000. From October 14, 1986 until February 9, 1987, Mr. HOYLAND deposited $61,433…