San Diego
Five San Ysidro currency exchange houses and several individuals were charged Thursday with failing to report money exchanges that one investigator said could total as much as $10 million. The U.S. attorney’s office in San Diego said the businesses and their owners on eight occasions failed to comply with reporting requirements. Federal law requires financial institutions to report to the Internal Revenue Service any currency transactions by an individual that separately or in the aggregate total $10,000 or more. Those charged were Azteca Currency Exchange, Blue House Financial, California San Diego Currency Exchange, El Peso Currency Exchange and Balboa Money Exchange.
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