Illegal investment; penalties

Illegal investment; penalties. (a) A person is guilty of illegal investment if, with the intent to evade a transaction reporting requirement of this state or of 31 U.S.C. § 5311 et seq. or 31 C.F.R. § 1010.100 et seq., or any rules or regulations adopted under those chapters and sections, the person: (i) Causes a financial or business institution to fail to report or to file a report that contains a material omission or misstatement of fact; or (ii) Structures or assists in structuring any transaction with one (1) or more financial or business institutions. For purposes of this paragraph, "structures" or "structuring" means that a person, acting alone, or in conjunction with or on behalf of other persons, conducts one (1) or more currency transactions, in any amount, at one (1) or more financial or business institutions, on one (1) or more days, in any manner, for the purpose of evading currency transaction reporting requirement of this state or of 31 U.S.C. § 5311 et seq. or 31 C.F.R. § 1010.100 et seq., or any rules or regulations adopted under those chapters and sections. For purposes of this paragraph, the transaction or transactions need not exceed any reporting threshold under state or federal law at any single financial or business institution on any single day. (b) Illegal investment is a felony punishable by imprisonment for not more than ten (10) years, a fine of not more than ten thousand dollars ($10,000.00), or both.