New Jersey attorney charged with structuring cash deposits

NEWARK, N.J. — A Jersey City, New Jersey, attorney was charged in federal court Wednesday with structuring approximately $800,000 in bank deposits to avoid reporting the income to the IRS.

This charge resulted from an investigation by U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI).

Magdy Fouad Anise, aka Michael Anise, 51, of Aberdeen Township, New Jersey, was charged with structuring cash transactions to avoid reporting requirements and structuring more than $100,000.

According to court documents, Anise was an attorney at Anise & Anise, Attorneys at Law, located in Jersey City. From 2009 through 2011, Anise allegedly received cash kickbacks from doctors and others in exchange for personal-injury client referrals. In lieu of cash, Anise asked a doctor who gave him kickbacks to pay him with gold bars, give money to Anise’s church and pay Anise’s mortgage.

From 2009 through 2012, Anise accumulated approximately $800,000 in cash, including cash from the kickback scheme. During that time, Anise allegedly made cash deposits into five different bank accounts that he controlled in amounts less than $10,000, the amount that would have triggered the filing of a currency transaction report (CTR) with the IRS.

CTR forms require disclosure of the identity of the individual who conducted the transaction and the individual or organization for whom the transaction was completed. Many individuals involved in illegal activities are aware of these reporting requirements and try to get financial institutions not to file CTRs in order to avoid detection of the movement of large amounts of U.S. currency. These steps are referred to as “structuring” and involve making multiple cash deposits or withdrawals in amounts of $10,000 or less on the same day or consecutive days in order to avoid CTR filings.

The charge of structuring cash transactions to avoid reporting requirements carries a maximum penalty of five years in prison and a $250,000 fine. The charge of structuring more than $100,000 carries a maximum potential penalty of 10 years in prison and a $250,000 fine.

The charges and allegations contained in the indictment are merely accusations, and the defendant is considered innocent unless and until proven guilty.