Two North Texas car dealers have been convicted in a money laundering scheme.
A 55-year-old man from Mckinney, Texas was convicted of conspiracy to commit money laundering and 47-year-old man from Richardson, Texas was convicted of conspiracy to commit money laundering and substantive money laundering.
The 55-year-old man was the owner and operator of a Suzuki dealership which sold new and used vehicles. He was also the director and president of Expressway Financial Inc., which offers financial and leasing arrangements.
The 47-year-old man was the sales manager for the latter company. At the trial, prosecutors had witnesses that stated that the two men sold high-end luxury vehicles to people who derived their income from fraudulent activity such as the promotion of prostitution, distribution of a controlled substance, and wire fraud. During these transactions, the two men told the criminal customers that they would not report the transactions to authorities.
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