A Talladega scrap yard owner pleaded guilty Monday to
violating a federal banking rule on cash withdrawals and also agreed to forfeit
more than $1.2 million in civil and criminal actions brought by federal
prosecutors. 61 year old Edward M.
Hindman, owner of Hindman's Wrecker Service & Salvage in Talladega, entered
his guilty plea to one count of structuring before U.S. District Judge L. Scott
Coogler in a Tuscaloosa courtroom.
Hindman must forfeit $119,400 to the government as part of his plea
agreement, according to court documents. He is scheduled to be sentenced June
26. Hindman also agreed to forfeit
another $1,148,981 in a civil suit brought by the U.S. Attorneys Office against
money seized from Hindman's bank account in March 2011. In a stipulation of
settlement filed Monday in the civil case, Hindman admitted no wrongdoing, but
acknowledged that the government had reasonable cause to seize the money in
2011 and commence the forfeiture proceedings.
The U.S. Attorney's Office brought the criminal charge against Hindman
on Thursday. Hindman acknowledges in his plea agreement that he intentionally
structured, and directed others to structure, cash withdrawals at First
National Bank Talladega in amounts less than $10,000 to avoid triggering the
bank's requirement to file a Currency Transaction Report with the U.S. Treasury
Department on all transactions greater than $10,000.
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