Federal authorities accused the director of the Asian Gaming section of the Oaks Card Club in Emeryville of hiding transactions of nearly $1 million by depositing them in small amounts into his personal accounts.
The IRS said Hoa The Nguyen, of Alameda, deposited at least $906,850 in his personal accounts between March 21, 2006, and Dec. 15, 2010, according to the complaint filed Tuesday in U.S. District Court in San Francisco.
Bank records included in the complaint revealed the deposits were made incrementally, sometimes multiple times a day, to banks across the Bay Area and in Los Angeles. He held accounts at Bank of America, California Bank and Trust, and JP Morgan Chase.
Out of 380 deposits, only five totaled more than $10,000; many were for $9,900, IRS Agent Bryan Wong said in a sworn affidavit. Casinos, banks and a variety of other institutions are required to report transactions of more than $10,000 to the U.S. Treasury Department. Depositing amounts near that amount to avoid triggering detection is called structuring.
Wong claimed Nguyen knew about the requirement. It's unclear from the complaint whether Nguyen was making these deposits on his own behalf.
Nguyen is charged with causing or attempting to cause a domestic financial institution to fail to file a required currency transaction report. Charges also include structuring transactions to evade reporting requirements.
The charges are part of a
Authorities appear to have redacted Nguyen's name from the original complaint unsealed March 3 because he was not in custody.
On March 2, authorities searched his home on Whimbrel Court, raided both card clubs and arrested more than a dozen people as part of an operation that involved loan-sharking and drug-dealing. .
Both clubs remain closed after the raid.