United States Attorney John M. Bales
Eastern District of Texas

MAJOR MONEY LAUNDERING CONSPIRACY BUSTED IN EASTERN DISTRICT OF TEXAS

            PLANO, TX – U.S. Attorney John M. Bales announced today that 16 individuals have been indicted on money laundering charges in the Eastern District of Texas.  The following individuals were named in the one-count indictment, which was returned by a federal grand jury on June 11th:

           
            According to the indictment, Arledge served as the owner and operator of "Richard Arledge Suzuki," which sold new and used cars, and as the director and president of "Expressway Financial, Inc.," which provided vehicle financing and leasing arrangements.  The purpose of the conspiracy was for individuals who derived their income from illegal activities, such as the distribution of controlled substances or promotion of prostitution, to use their illegal income to purchase luxury automobiles.  It was also a purpose of the conspiracy, in certain instances, to arrange to title these transactions in the names of third parties with their knowledge and consent in order to conceal the source of payment and true ownership of the automobiles. 

            If convicted, defendants each face up to 20 years in federal prison.

            This case is being investigated by the Internal Revenue Service, the Desoto Police Department, the Lancaster Police Department, and the Midlothian Police Department and prosecuted by Assistant U.S. Attorney Shamoil T. Shipchandler. 

            A grand jury indictment is not evidence of guilt.  All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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