Yassine Brothers Sentenced To Federal Prison In Money Landering Scheme
In Austin this morning, brothers Hussein Ali “Mike” Yassine, age 40, and Hadi Ali Yassine, age 36, were sentenced to 151 months and 60 months in federal prison, respectively, for their roles in a money laundering scheme.
In addition to the prison terms, U.S. District Judge Sam Sparks ordered that Mike Yassine pay a $60,000 fine; Hadi Yassine, a $30,000 fine. Judge Sparks also ordered that both defendants be placed under supervised release for a period of three years after completing their prison terms.
On October 12, 2012, following a seven-day trial, a jury convicted Mike and Hadi Yassine of one count of conspiracy to commit money laundering. The jury also convicted Mike and Hadi Yassine of three counts and two counts of money laundering, respectively. The jury found that in 2008 and 2009, Mike and Hadi Yassine used several business establishments, including nightclubs, located in downtown Austin to launder over $200,000 in cash, which they believed to be the proceeds of narcotics trafficking.
This investigation was conducted by agents and investigators with the Federal Bureau of Investigation, Internal Revenue Service-Criminal Investigation and the Austin Police Department together with the Drug Enforcement Administration, Texas Attorney General’s Office, Texas Alcoholic Beverage Commission and the Texas Comptroller’s Office. Assistant United States Attorney Gregg N. Sofer is prosecuting this case on behalf of the Government.