USA: Real estate attorney convicted in money laundering case
- Posted on Monday, November 6, 2006 at 11:12AM by The Editor - Ian Shuter in Convictions, Closing Agent/Attorney, Money Laundering, Drug Trafficking, Washington (WA) | Comments Off
In the following press release The United States Attorney for the State of Washingon announced that on November 3, 3006 JOEL MANALANG, 37, a Seattle, Washington attorney was sentenced in U.S. District Court in Seattle to 18 months in prison, two years of supervised release and a $6,000 fine for Money Laundering. At sentencing, U.S. District Judge Ricardo Martinez said, "Warnings that were given were not heeded by Mr. Manalang. As a result of that error in judgment he will suffer quite a bit."
MANALANG was a real estate attorney who operated an escrow business. Court papers allege that during 2003 and 2005, MANALANG received large quantities of cash from clients under circumstances indicating to MANALANG that the money was derived from drug trafficking. The money was received by MANALANG in shoe boxes and duffle bags. MANALANG thereafter engaged in financial transactions with these monies assisting drug traffickers in the acquisition of real estate. On one occasion, MANALANG stored several hundred thousand dollars cash in his residence, before returning it to others. MANALANG pleaded guilty on August 1, 2006 and acknowledged that he knew the funds were derived from criminal activity, and that his actions were intended to conceal the true nature of the funds and from whom they were obtained, and to evade currency reporting requirements imposed by law.
MANALANG told Judge Martinez, "My desire to be successful and have my family and friends be proud of me led me to ignore warning signs."
This was an Organized Crime and Drug Enforcement Task Force (OCDETF) investigation, providing supplemental federal funding to the federal and state agencies involved. This case was investigated by U.S. Immigration and Customs Enforcement (ICE), and the Internal Revenue Service Criminal Investigations (IRS-CI). The case was prosecuted by Assistant United States Attorneys Ron Friedman and Susan Roe.
For additional information please contact Emily Langlie, Public Affairs Officer for the United States Attorney's Office at (206) 553-4110.
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