Francis Arthur, Money Laundering, Maryland 2022

In a shocking case of financial deception, Francis Arthur, a 35-year-old man from Silver Spring, Maryland, has been sentenced to a year and a day in federal prison for his involvement in a money laundering conspiracy.

The scheme, which took place from October 2016 through April 2017, involved Arthur and his co-conspirators using financial transactions to conceal the nature, source, and ownership of the proceeds of a fraud scheme.

The evidence presented in court showed that the conspirators transferred, withdrew cash, and caused cashiers' checks to be issued from the proceeds of the fraud scheme, which targeted victim account holders at a Maryland credit union.

Arthur and his co-conspirators then used the funds to purchase high-end vehicles, attempting to conceal the fact that the funds were derived from a fraud scheme.

The sentence was announced by United States Attorney Erek L. Barron, who commended the U.S. Secret Service and the Montgomery County Department of Police for their work in the investigation.

Arthur was also ordered to pay $339,000 in restitution as part of his sentence.

The case was prosecuted by Assistant U.S. Attorney Thomas M. Sullivan and U.S. Attorney Christian Nauvel of the Money Laundering and Asset Recovery Section.

For more information on the Maryland U.S. Attorney's Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

Source: https://www.justice.gov/usao-md/pr/silver-spring-man-sentenced-federal-prison-money-laundering-conspiracy-involving-high-end