A suburban Chicago bank has admitted its role in a money laundering scheme connected to an international pseudoepherine trafficking operation.

The U.S. attorney's office accused Family Bank and Trust Co. of conspiring with with its former top executive and others in 2001 to violate federal bank regulations by failing to file multiple currency transaction reports. The unfiled reports involved deposits of more than $800,000.

The bank has been placed on two years' probation and ordered to forfeit $800,000. It also will relinquish any claims involving $2.2 million being held by the government in connection with the drug trafficking case

In that prosecution, multiple defendants were convicted of structuring cash deposits from their illegal business into multiple accounts at Family Bank to disguise the illegal nature of the proceeds.