‘Leaves you numb’: Store owner still fighting IRS after feds seized his $107G account

by
May 13, 2015

IFJ_7519

When federal agents stormed into Lyndon McLellan’s North Carolina convenience store last October without warning and accused him of trying to put one over on the government, the small business owner wasn’t sure what was happening.

“They asked me if I knew what ‘structuring’ was and then they showed me some cash deposits I made in a 24-hour period,” he told FoxNews.com.

The IRS agents apparently were suspicious because of deposits McLellan had made of just under $10,000. Banks are required to report transactions over $10,000; making multiple deposits of less than $10,000 to evade that requirement is known as “structuring.”

Under this pretense, enforcement agents accused McLellan of the con and seized all $107,000 from his bank account.

  • gavinwca

    Wow!!!! Went back and read the federal coder on this communist action by government. if a legal honest business takes in more than $10,000 dollars a day and makes more than one deposit under that amount, to a legal bank account. ( no other criminal activity at that business ) a federal agent can confiscate that businesses bank account just for that reason, accouseing them of structuring their deposits. Then the business has to spend years in court and thousands of dollars to get their legal money back. Talk about black male. The government is experts in blackmailing citizens out of their money. The mofia, was more honest to the businesses they sold them protection in years past.

  • gavinwca

    All right what crime did he commit. These traitors in government are stealing people’s money. What business of the IRS is it that a business makes several deposits daily instead of just one. This Fascist behavior by the IRS and the administration. Does not give them the right to steat a private businesses money.

  • ADRoberts

    It is time. Abolish the IRS. Go to flat tax with NO returns

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