December 18 2018
Morad “Ben” Neman and Hersel Neman – the owners and top executives of Pacific Eurotex Corp., an import-export textile company based in the Los Angeles Fashion District – each received federal prison sentences today for their roles in a “Black Market Peso Exchange” scheme to launder money for international drug cartels.
The investigation into Pacific Eurotex was conducted by U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) and IRS Criminal Investigation.
Morad “Ben” Neman, 58, of Westwood, the chief executive officer of Pacific Eurotex, was sentenced to two years in federal prison, to be followed by six months of home confinement. In addition to the prison term, Neman is jointly liable with the company to forfeit $3,178,230 million to the government.