Man gets probation for 'structuring' casino payments for former NBA player

A Brooklyn man has been sentenced to five years probation for attempting to avoid federal reporting requirements when depositing the casino winnings of a former NBA player.

Michael Donnell Bond, 37, had previously worked as a personal assistant to the basketball player and remained friends with him, according to a court document. The player, identified only as "Person A" in court documents, had a big win at Foxwoods Resort Casino on April 26, 2007 and cashed out $121,300. The player met Bond at a New York club and gave him the $121,300. Bond said he would deposit the cash into the bank for the player.

On April 27 and April 30, 2007, Bond made eight deposits in amounts ranging from $9,500 to $10,000 into Person A's account at various branches of Citizen's Bank in Durham, Middletown, and Cromwell. Also, on April 30, 2007, Bond made additional cash deposits in amounts less than $10,000 into his personal bank account at Washington Mutual Bank in Brooklyn, New York, and received checks payable to Person A from the bank.

Bond has admitted that he knew banks were required to issue a report for a transaction in excess of $10,000, and that he purposely kept the cash deposits in amounts at or below $10,000 because he did not want the banks to complete the required reporting forms, and did not want people inquiring about the source of the cash.

At today's sentencing in New Haven, U.S. District Judge Ellen Bree Burns also ordered Bond to pay a fine of $1,400.

The player, or Person A, has not been charged.

The case was investigated by the Internal Revenue Service – Criminal Investigation and was prosecuted by Assistant United States Attorney Peter S. Jongbloed.