A former vice president and trust officer at Regions Bank in Tyler was sentenced to three years of federal probation on Tuesday for unlawfully structuring transactions to evade federal reporting requirements.
Carol D. Rushton, of Tyler, pleaded guilty on Dec. 17, 2015, to unlawfully structuring transactions. Ms. Rushton was also ordered to pay a $30,000 fine and must perform 108 hours of community service as well as notify all of her current and future clients of her conviction.
According to information presented in court, from Nov. 3, 2010 to Aug. 15, 2012, Ms. Rushton, while employed at Regions Bank in Tyler, caused nine separate transactions of $10,000 or less, totaling $70,500 for the purpose of evading federal reporting requirements. Rushton admitted that she was aware that financial institutions are responsible for filing a Currency Transaction Report with the Internal Revenue Service when a customer conducts a currency transaction in excess of $10,000.
The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Jim Noble.