Md. Farmer Settles Federal Financial Probe
MIDDLETOWN, Md. (AP) — A Frederick County dairy farm is settling federal accusations that it violated banking laws designed to curtail money laundering.
The Frederick News-Post reported Thursday that South Mountain Creamery owners Randy and Karen Sowers agreed
earlier this week to forfeit about $30,000 of nearly $63,000 the government seized in April.
The couple admitted no wrongdoing but acknowledged the government had reasonable cause to seize the money.
The Justice Department accused them of violating federal currency reporting requirements by making numerous cash deposits in amounts just under $10,000 to avoid filling out forms required under the Bank Secrecy Act.
The couple says the cash came from sales of their products at farmers markets.
Randy Sowers says he did nothing wrong but felt pressured to settle the allegations.
(Copyright 2012 by The Associated Press. All Rights Reserved.)