Former Vice-Mayor and Commissioner in Broward County, Florida sentenced for money laundering
March 13th, 2010 - 1:20 am ICT by BNO NewsMIAMI, FLORIDA (BNO NEWS) – Former Vice-Mayor and Commissioner in Broward County, Florida, was sentenced for conspiring to money laundering, prosecutors said on Friday.
Josephus “Joe” Eggelletion, 60, of Lauderdale Lakes admitted to deliberately collaborating with others to assist in the laundering of money, which FBI undercover agents claimed was coming from a supposed high yield investment “Ponzi” scheme, and to evade paying federal income taxes on the cash fees he received for laundering this money.
Eggelletion introduced the FBI undercover agents to co-perpetrators Ronald Owens and Joel Williams, who assisted the undercover agents in meeting with Bahamian attorney Sidney Cambridge to open a Bahamian bank account in order to launder their money. The undercover agents had informed Eggelletion and others that the money originated from a high yield investment fraud scheme.
The undercover agents wire-transferred around $900,000 to Cambridge’s escrow account, which Cambridge later transferred to the Bahamian account he set up for the undercover. Lastly, the funds were transferred from the Bahamian account to an FBI-controlled bank account in Saint Croix.
In February 2008, Owens informed Eggelletion that the undercover agents were laundering another $200,000. Eggelletion and his associates received 7% of the laundered funds through the accounts, which was paid in cash.
Eggelletion was sentenced to a thirty-month prison term.
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