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Press Release

Chichester Car Dealer Pleads Guilty to Financial Crimes

For Immediate Release
U.S. Attorney's Office, District of New Hampshire

            CONCORD - Michael A. Albert, 51, of Chichester, pleaded guilty in federal court on Tuesday to structuring cash deposits from his business, Mike’s Affordable Auto, LLC, for the purpose of evading bank reporting requirements, money laundering, and evading reporting requirements with respect to cash transactions in excess of $10,000, United States Attorney Scott W. Murray announced.

             According to court documents and statements made in court, Albert, who ran a used car business at locations in Concord and Chichester, knew that if he deposited cash in amounts more than $10,000, the bank was required to file reports of those transactions with the IRS.  Albert structured cash deposits from his business in order to evade the reporting requirements imposed on the bank.  Additionally, Albert accepted cash in amounts greater than $10,000 for the purchase of vehicles from a person who represented that the cash was proceeds of illegal drug trafficking.  Finally, Albert failed to file required forms with the IRS identifying cash receipts in his business in excess of $10,000.   

            Albert is scheduled to be sentenced on December 17, 2019.  As part of his plea agreement, he has agreed to the civil forfeiture of over $400,000.

            “Federal financial laws help to ensure that businesses do not engage in money laundering or facilitate other financial crimes,” said U.S. Attorney Murray.  “When those who operate businesses fail to comply with their legal obligations, they face potential criminal prosecution.”

            “Federal laws that regulate the reporting of currency transactions, to include vehicles purchased for cash, are in place to detect and stop illegal activities,” said Kristina O’Connell, Special Agent in Charge of IRS Criminal Investigation’s Boston Field Office. "Individuals who engage in this type of financial fraud should know they will not go undetected.  We will continue to work closely with the U.S. Attorney’s Office and our law enforcement partners to hold them accountable."

            This matter was investigated by the Drug Enforcement Administration and the Internal Revenue Service, with assistance from Immigration and Customs Enforcement’s Homeland Security Investigations and the Manchester Police Department.  The case is being prosecuted by Assistant U.S. Attorney Arnold Huftalen.  The civil forfeiture matter is being handled by Assistant U.S. Attorney Robert Rabuck.

            This case was supported by the Organized Crime Drug Enforcement Task Force (OCDETF).  The OCDETF program is a federal multi-agency, multi-jurisdictional task force that supplies supplemental federal funding to federal and state agencies involved in the identification, investigation, and prosecution of major drug trafficking organizations.  



Updated September 11, 2019

Drug Trafficking
Press Release Number: 19-164