CHINESE director Ying Da has pleaded guilty to currency violations in Connecticut, the United States, and could face up to 10 years in prison and a maximum fine of US$500,000.

    According to court documents, Ying structured 50 cash deposits into his and his wife’s six accounts at four banks in Connecticut between April 2011 and March 2012.

    The cash, amounting to US$464,400, was split to make each deposit less than US$10,000, as Ying knew banks are required by federal law to report currency transactions of more than US$10,000.

    Officials said his structuring activity was intended to evade the transaction reporting requirements.

    Even though the deposited money was legitimately earned, Ying’s financial transactions still violated the U.S. federal criminal law, Attorney Deirdre M. Daly said in a press statement.

    Ying was released pending sentencing.

    As part of the resolution, he agreed to forfeit US$175,938 of the funds he structured in Connecticut, and pay the Internal Revenue Service US$113,195 in unpaid federal taxes, plus penalties and interest for 2009, 2010 and 2011.

    (CRI)