A Monroe man who owned a car dealership in Ansonia pleaded guilty Monday to structuring money.
In 2007, Joseph E. Brown, Sr., owner of Platinum Motors, sold a 2005 Chevrolet Silverado to an IRS agent posing as a customer.
Brown sold the vehicle for $38,000 cash, according to a statement from the U.S. Attorney’s Office.
The undercover agent told Brown he didn’t want forms filed reporting the large payment. The government requires a form 8300 be filed out for currency transactions of more than $10,000.
Brown, according to the government, offered to cook the dealership’s books so that it looked like the undercover agent was making smaller payments over time.
Brown faces a maximum prison term of five years and a fine up to $250,000.
He entered his plea in federal court in Hartford in front of Judge Christopher F. Droney.
