SIOUX FALLS, S.D. (KELO) — A Harrisburg man has been sentenced for structuring in violation of Federal banking laws.
According to a press release from the U.S. Attorney’s Office for South Dakota, Richard Kamolvathin, 59, of Zolvent Pro LLC, was sentenced by U.S. District Judge Karen Schreier Monday to 5 years probation and ordered to pay $363,800 in restitution for the structuring violation.
What is the history of Wounded Knee?
KELOLAND News reported on Kamolvathin in 2023 being accused of illegally taking hundreds of thousands of dollars in COVID relief money.
The crime of structuring is designed to evade anti-money laundering laws and usually consists of intentionally breaking large amounts of cash into smaller deposits so as not to trigger mandatory reporting by those financial institutions…