Logan County Assessor Charged with Federal Banking Violation
The Logan County Assessor has been charged with a federal banking law violation.
US Attorney Booth Goodwin says Russell R. Grimmett, also known as Rick, was charged Wednesday with violating federal banking laws.
According to Goodwin, in December 2012, Grimmett and an associate withdrew $15,000 from the Logan Bank and Trust in Man. However, they are accused of making the transactions less than $10,000 to prevent triggering the reporting requirement.
This practice, known as "structuring," is a federal crime.
Grimmett, who is the Logan County Assessor, faces up to five years of imprisonment and a fine of up to $250,000 if convicted.
The charge stems from an investigation conducted by the FBI, IRS Criminal Investigation, United States Postal Inspection Service, and the West Virginia State Police. Assistant United States Attorney Meredith George Thomas is handling the prosecution.