Mike's Coin & Stamp is a business located in Bakersfield, CA, specializing in the buying and selling of coins and stamps. The owner, Michael Seguine, recently pleaded guilty to structuring cash deposits in order to avoid bank reporting regulations, resulting in a civil forfeiture of approximately $305,000.
With over $1 million to $2.5 million structured in cash deposits between July 2009 and May 2012, Mike's Coin & Stamp has been the subject of an investigation by the Internal Revenue Service-Criminal Investigation and the Bakersfield Police Department. The business offers a range of services related to coins and stamps, and is scheduled to be sentenced in January 2015.
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