philadelphia business owner charged with money laundering
An indictment was filed today charging Wilbur Jerome Ross, 59, of Glenside, Pennsylvania, with one count of money laundering and two counts of structuring transactions to evade reporting requirements, announced United States Attorney Zane David Memeger.
According to the indictment, Ross is the owner and operator of Ross Enterprises, Inc. (“REI”), which is doing business as United Check Cashing at 1001 Market Street in Philadelphia. REI is a money transfer center, offering domestic and international money transmitting services to the public, in addition to check cashing, money orders, and bill paying services.
The indictment further alleges that Ross was trained – and Ross trained his employees – on anti-money laundering and currency transaction reporting requirements. Despite this training, after being informed that financial transactions were the proceeds of illegal drug trafficking, Ross allegedly initiated an international transfer of money and exchanged blank money orders for cash. Ross allegedly structured this and other transactions to evade and defeat transaction reporting requirements.
If convicted of all charges, Ross faces a maximum possible sentence of 30 years imprisonment, a three year period of supervised release, a $750,000 fine, and a $300 special assessment.
The case was investigated by Homeland Security Investigations and is being prosecuted by Assistant United States Attorney Vineet Gauri.
UNITED STATES ATTORNEY'S OFFICE, EASTERN DISTRICTof PENNSYLVANIA
Suite 1250, 615 Chestnut Street, Philadelphia, PA 19106
PATTY HARTMAN, Media Contact, 215-861-8525