Holmen Man Pleads Guilty to Cocaine & Money Laundering Charges
Madison, Wis. - John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Joseph P. Loomis, 28, Holmen, Wis., pleaded guilty yesterday in U.S. District Court in Madison to several drug-related charges, following a lengthy investigation. Loomis pleaded guilty to conspiring to possess with intent to distribute and to distribute five kilograms or more of cocaine, and to laundering his drug proceeds.
U.S. District Judge Barbara B. Crabb scheduled sentencing for March 29, 2012 at 1:00 p.m. On the conspiracy charge, Loomis faces a mandatory minimum penalty of 10 years in prison and a maximum penalty of life in prison. On the money laundering charge, Loomis faces a maximum penalty of 20 years in prison.
At the plea hearing, the United States established that Loomis possessed and distributed at least fifteen kilograms of cocaine in the La Crosse, Wis. area from approximately April 2006 to September 2008, and also distributed marijuana from 2006 through the spring of 2011. The United States further established that Loomis laundered drug proceeds through the use of a Netspend stored value card by depositing large sums of cash onto the card and then using the card to purchase items from, among other retailers, Gucci, Louis Vuitton, Burberry, and Tiffany. The investigation revealed that Loomis told a drug associate that he thought the card was "untraceable".
The charges against Loomis were the result of an investigation conducted by the Internal Revenue Service; Drug Enforcement Administration; Wisconsin Department of Justice, Division of Criminal Investigation; La Crosse Police Department; and Onalaska Police Department. The prosecution of the case has been handled by Assistant U.S. Attorneys Stephen P. Sinnott and Meredith P. Duchemin.
Making sure that victims of federal crimes are treated with compassion, fairness and respect
Help us combat the proliferation of sexual exploitation crimes against children.
Learn how you can help drug endangered children