Complinet logo
Search
Contact us

Structured bank deposits yield California marijuana trafficker three-year sentence

Nov 02 2012 Brett Wolf, Compliance Complete

A Sacramento, California marijuana trafficker on Thursday was sentenced to more than three years in prison for arranging for his out-of-state customers to make structured cash deposits into bank accounts under his control and then making structured withdrawals. Last year, Keni Renta, 29, grew some marijuana and obtained more from other California growers and sold it to customers in mid-western and northeastern states, court documents state. Those buyers paid by making deposits into bank branches outside of California for accounts in Renta's name or that he controlled. Renta controlled accounts at Bank of America, Wells Fargo, and JPMorgan Chase Bank, the charging document filed in the case states. Renta's plea agreement, filed in May, states that some accounts belonging to one of Renta's associates, Jauwon Wilder, 28, were also used in the scheme. As directed by Renta, his out-of-state marijuana customers deposited their payments into his accounts after dividing them up into amounts

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial