A written plea agreement was also filed in Court. In August 2007 McVay was charged with the violations in a three count indictment which included criminal forfeiture.
According to the factual basis filed as a part of the plea agreement, between August and October of 2006, McVay made a series of 24 cash deposits, often only minutes apart, at branches of two banks in amounts just below $10,000, the threshold at which banks must file currency transaction reports (CTRs). Also in the plea agreement, McVay agreed to forfeiture in the amount of $150,000.
McVay is a former banking officer for two banks, and the former Treasurer and Chief Financial Officer of HealthSouth Corporation.
The penalty for structuring financial transactions is a maximum of five years in prison and a fine of $250,000.
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