The Industry's Leading Source For F&I, Sales And Technology

Compliance

Dealership CEO Accused of Evading Cash Deposit Reporting Requirements

June 17, 2013

COLUMBUS, Ohio — A federal grand jury indicted CEO of Valueland Auto Sales Inc., Ron Benit, on 26 counts of evading reporting requirements for cash deposits, The Columbus Dispatch reported this week.

Benit and his company are accused of making multiple cash deposits of less than $10,000 on the same day or consecutive days. Federal law requires that businesses report cash transactions of more than $10,000 by filing Form 8300 with the IRS.

To read the full story, click here.

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

CLOSE [X]

READ NEXT

CFPB Takes Center Stage at NAF Conference

With the CFPB’s Rick Hackett headlining the agenda, the NAF Association broke a decade-old attendance record for its 17th annual Non-Prime Auto Finance Conference.