Logan County Assessor Charged with Federal Banking Law Violation
CHARLESTON, WV—United States Attorney Booth Goodwin filed an information in federal court in Charleston today against Russell R. Grimmett, also known as Rick Grimmett, for violating federal banking laws. Banks are required by federal law to report all cash transactions in excess of $10,000. Grimmett and an associate withdrew cash from the Logan Bank and Trust in Man, West Virginia in amounts less than $10,000 to prevent triggering the reporting requirement. This practice, known as “structuring,” is a federal crime. Grimmett, the Logan County Assessor, faces up to five years of imprisonment and a fine of up to $250,000 if convicted. Today’s charge stems from an investigation conducted by the FBI, IRS Criminal Investigation, United States Postal Inspection Service, and the West Virginia State Police. Assistant United States Attorney Meredith George Thomas is handling the prosecution.
An information is merely an accusation, and the defendant is presumed innocent until and unless convicted.