A Denver grand jury returned an indictment against three individuals in a case where the laundering of drug money has been alleged. It is claimed that the three individuals arrested deposited just under $10,000 during transactions to purportedly evade reporting laws.
The three are accused of conspiring to help drug manufacturers and traffickers launder money through vehicles at one of the individual’s car dealership. Prosecutors claim as much as $4.5 million was laundered in this manner. Apparently, Internal Revenue Agents also have been involved in the investigation of this matter.
Search warrants were executed by Denver Police and other Colorado police departments, and the seizures that have come along with these warrants have been exorbitant. It was reported that 20 vehicles have been seized due to the supposed conspiracy. If federal prosecutors are successful in convicting the three individuals, the three will have to forfeit all property or money claimed to have been part of the criminal conspiracy.
With IRS involvement, it’s also impossible to predict what other financial penalties will be tacked onto criminal fines and penalties. Each count of money laundering carries with it a potential penalty of 10 years in prison and a $500,000 fine.
Anyone convicted of federal drug charges would be best advised to find a talented and experienced criminal defense attorney. Conviction for these offenses comes at a price that most people can never afford, and individuals arrested need to understand every single legal option before providing any information or testifying concerning any of the charges.
Source: TheDenverChannel.com, “3 people indicted in an alleged scheme to launder drug money through a Commerce City car dealership,” March 6, 2013
- Learn more about Colorado drug possession laws at our Denver lawyers’ website.