World
Found drug loot leads to IRS headaches
St. Louis | May 09, 2008 12:01:13 AM IST
U.S. agents say an Illinois prison guard stumbled upon a buried bundle of drug money and Uncle Sam wants it. The strange story will wind up in court May 16 for a hearing on the government's motion to seize the money and property involved in the case. An Internal Revenue Service agent told the St. Louis Post-Dispatch that Paul Steinacher and his live-in girlfriend, Connie Collins, dug up about $500,000 worth of cash and jewelry that Collins said her former drug-dealer boyfriend had buried before being sent to prison for nine years in 2005. The couple allegedly divided up $75,000 of the cash into small separate deposits made in three separate bank accounts. They then bought a house, the report said. Things went smoothly until Steinacher allegedly caught Collins with another man. He took his revenge by signing over the house to her and then reporting her to the Drug Enforcement Administration, the report said. The Post-Dispatch said the DEA didn't take the tip seriously; however, the IRS had already been tipped off about the unusual bank deposits. The pot dealer who originally buried the money told the newspaper he reached a forfeiture agreement with the government and would have no further comment. (UPI)
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