IRS seized $107,000 from this North Carolina man’s bank account

IRS seized $107,000 from this North Carolina man’s bank account

The federal agents then showed [Lyndon] McLellan paperwork that included deposits to [his] store’s account at Lumbee Guaranty Bank…. The statements, they said, indicated he had a history of consistent cash deposits of less than $10,000, which is illegal.

Then, the agents told the small business owner something that shook him to his core: The Internal Revenue Service had seized all of the money in L&M’s bank account: $107,702.66.

“‘Are you telling me you took my money?’” McLellan recalled asking the agents. “I didn’t understand what was going on. They dropped a bomb on me. I was lost for five to 10 minutes. I can’t believe that y’all guys can walk in here and tell me y’all took every bit of my money out of the bank.”

After law enforcement cleared McLellan’s store, he drove to Lumbee Guaranty Bank. The agents had been there hours earlier and emptied his account, McLellan recalled, walking out of the building with a cashier’s check.

McLellan walked out of the bank with nothing.

 

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