Contact Us

Shreveport Businesses Closing in Connection with Money Laudering Operations

mike's auto sales_googlemaps
Google Maps

Two Shreveport businesses have been ordered to pay $850,000 in fines and forfeit $1.3-million in illegal proceeds.

Mike’s Auto Sales has been fined $500,000 and A-1 Auto Finance Company, fined $350,000. The businesses were also given five years of probation. The two businesses, represented by company president Michael Boyter of Shreveport each entered guilty pleas August 26th to one count of conspiracy to launder monetary instruments.

According to evidence presented at the guilty pleas, the owners and operators engaged in a conspiracy to commit money laundering beginning in 1996 through November 2010. The scheme concerned the sale
and financing of used and new vehicles to individuals who derived, or represented that they derived, significant income from the distribution of illegal drugs.

The operators of the businesses knowingly accepted cash proceeds from drug dealers, allowed vehicle purchases in the names of nominees, and falsified records of payments received. They provided false information to multiple local and federal law enforcement agencies, including the Shreveport Police Department and the Harrison County Sheriff’s Office, to facilitate the release of vehicles seized from drug dealers.

In 2009 and 2010, the FBI conducted multiple “sting” operations directing cooperating individuals to purchase vehicles in the names of nominees and using large cash payments toward the purchase of those vehicles. These operations proved that the defendants readily accepted large amounts of money thought to be drug proceeds and skimmed cash from down payments by manipulating records to show lower sales prices and reduced amounts of down payments.

In connection with these activities, Boyter pled guilty to one count of wire fraud and one count of tax evasion. He was sentenced February 18th to 60 months in prison for wire fraud and tax charges. He was also ordered to pay more than $290,000 in restitution and a $200,000 fine.

Company secretary and treasurer Anthony Reuben Riley of Shreveport was also sentenced on February 18th to 15 months in prison for the failure to file Form 8300 and was ordered to pay a $100,000 fine.

 

More from 710 KEEL

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://710keel.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Radio 710 KEEL quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on News Radio 710 KEEL quickly by logging in with your Facebook account. It's just as secure, and no password to remember!