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Report: UFC's Sonnen pleads guilty to money laundering
Former Ultimate Fighting Championship No. 1 middleweight contender Chael Sonnen has pleaded guilty to money laundering and could face up to 20 years in prison or a $500,000 fine, according to a release issued Monday by the U.S. District Attorney's office in Oregon.
props to Turbo_ZoneLattimer wrote:Cracks me up that people still think that Wiggins will be involved in the trade for Love. Wolves are out of their mind if they think they are getting Wiggins for Love.
Michelle Holman Kerin, the assistant U.S. attorney handling the case, told the Oregonian that Sonnen agreed to give up his Realtor's license and pay a $10,000 fine. The government is recommending Sonnen be sentenced to two years of probation.
"This office will continue to aggressively prosecute real estate professionals who committed the mortgage fraud that contributed to this country's economic downturn and wreaked havoc on our community's housing market," US Attorney Dwight Holton said in a statement. "We entrusted these professionals to honestly broker real estate transactions and instead, they defrauded lending institutions throughout the country and left financial ruin in their wake."
According to the release, Sonnen “admitted that a financial transaction he conducted was designed to conceal or disguise the ownership and control of the proceeds of wire fraud.”
Specifically, Sonnen allegedly arranged for a title company to pay $69,000 to a plumbing company for repairs to a Portland home that Sonnen was involved in the sale of. The release states that Sonnen knew that no repairs would be made to the home. Once the loan was funded, according to the U.S. Department of Justice, the plumbing company was directed by Sonnen to pay $65,000 to the homebuyer as a cash incentive for purchasing the home.
props to Turbo_Zone
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