County Assessor Guilty of Federal Banking Law Violation

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Education & Training with (retired) TN LIC# 290452

Former Logan County Assessor Pleads Guilty to

Federal Banking Law Violation

U.S. Attorney’s Office December 03, 2014
  • Southern District of West Virginia (304) 345-2200

CHARLESTON, WV—United States Attorney Booth Goodwin announced that

 

Russell R. Grimmett,

 

also known as Rick Grimmett,

 

51, of Man, West Virginia, pled guilty today to violating federal banking laws.

Grimmett is the former Logan County Assessor.

Banks are required by federal law to report all cash transactions in excess of $10,000. Grimmett admitted that he 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.

He further admitted that between early 2009 through December 2012, he and his associate structured more than $366,000 in cash from various banks.

As part of his plea agreement, Mr. Grimmett agreed to resign his position as Assessor. He also agreed to forfeit $150,000.

Grimmett faces up to five years of imprisonment and a fine of up to $250,000 when he is sentenced on March 11, 2014.

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.

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Rainmaker
368,813
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

These fraudster types need to get their head straight and use all that energy to earn money the honest way.

Dec 03, 2014 10:19 AM #1
Ambassador
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

David Saks  So sad that these people do this 

Dec 03, 2014 10:43 AM #2
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I guess this county assessor didn't feel like he had enough campaign contributions, so he had to steal a little extra.

Dec 03, 2014 08:12 PM #3
Rainmaker
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David Saks
(retired) - Memphis, TN

Jill, Hannah, Gabe, thanks for reviewing the DoJ press.

Dec 06, 2014 12:58 AM #4
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