Chicago fire marshal convicted of violating US banking laws

CHICAGO (AP) - A Chicago Fire Department marshal was convicted on federal charges of depositing around $350,000 in less than $10,000 increments at different financial institutions to evade banking-reporting requirements, the U.S. attorney's office in Chicago said Thursday.

Jurors convicted Antuane King, 49, of two counts of structuring a currency transactions as he made at least 37 deposits of less than $10,000, including at the Chicago Firefighters Credit Union. He faces a maximum of five years in prison on both counts when sentenced on June 12.

Neither the statement nor court documents explain the source of the nearly $350,000 that prosecutors say King deposited in seven financial institutions between 2015 and 2016. King, who has a real estate broker's license, later combined the money to buy three homes in the Chicago area.

Under federal law, banks must flag and report deposits of more than $10,000 to the federal agents on the lookout for possible illegal funds. King wasn't charged with illegally obtaining the money.

A spokesman for the Chicago Fire Department told the Chicago Sun-Times the department had been unaware of King's conviction until they were contacted by a reporter. King could not be reached for comment.

King began working for the department in 1999 and made a $99,324 salary as a fire marshal, the newspaper reported.