Samih Abdel Rahman, Money Laundering, Florida 2013

Tampa, FL – In a shocking turn of events, Samih Abdel Rahman, 51, owner of Sam & Sons Auto Sales, Inc., pleaded guilty to money laundering conspiracy in a federal court yesterday.

A superseding indictment charged Rahman on March 14, 2013, for his involvement in the money laundering scheme.

According to the plea agreement, Rahman, assisted by others, sold vehicles to customers who paid with cash from narcotics trafficking and/or fraudulently-obtained income tax refund fraud checks, known as SIRF checks. The money was laundered by conducting car sales in a manner that concealed the illicit sources of the funds.

Rahman titled the sold vehicles in the names of ‘straw purchasers’ – persons other than the actual buyers and intended users of the vehicles. He disguised the identities of the true buyers by creating and processing false paperwork for the car sales, including fake Bills of Sale and payment receipts.

Upon receiving cash payments of more than $10,000, Rahman laundered the money by structuring the bank deposits in a way that avoided triggering bank reporting requirements. He also failed to report those transactions, as required under federal law, by a car dealership receiving specific amounts of cash during the sales of vehicles.

The case was investigated by the Internal Revenue Service – Criminal Investigation. Assistant United States Attorney Matthew Jackson is prosecuting the case.

Rahman faces a maximum penalty of 20 years in federal prison. A sentencing date has not yet been set.