A Boston bank admitted currency violations.
- Share via
Provident Institution for Savings pleaded guilty in federal court in Boston to a charge that it failed to report large cash transactions, including some involving convicted mob boss Gennaro J. Angiulo. Angiulo, two brothers and an associate were convicted last week in a racketeering case in the same federal court. The government recommended a fine of $100,000 for the bank, and U.S. District Judge Walter J. Skinner agreed. The Boston-based bank was charged with not telling the Internal Revenue Service about numerous cash transactions over $10,000, as required by federal law.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.