By Rick Daysog
A Placerville aircraft dealership that helped several alleged drug traffickers from Mexico conceal the purchases of six airplanes has agreed to forfeit more than $428,000 as part of a plea deal.
Appearing before U.S. District Judge Morrison England Jr. today, Joseph Stancil, president and owner of Stancil Enterprises Inc., admitted that his company and its employees helped buyers from Sinaloa, Baja California and Sonora, Mexico evade federal reporting requirements for large cash transactions.
Federal law requires U.S. businesses and banks to file a currency transaction report anytime a person makes a cash purchase of $10,000 or more.
According to federal prosecutors, Stancil and Stancil Enterprises helped the buyers parcel payments totaling more than $428,000 into 57 different transactions of $9,500 or less during 2008 and 2009.
"Selling to criminal elements and helping them conceal their cash is a losing proposition," said U.S. Attorney Benjamin Wagner.
The plea deal covers the company, Stancil Enterprises. Joseph Stancil, a former owner of a local Toyota car dealership, and one of his salesman Daniel Mathis also were charged with conspiracy to aid and abet structuring financial transactions. They have worked out a deferred prosecution agreement.