United States Attorney Stephanie A. Finley announced today that William Paul Boyter, 75; Michael Paul Boyter, 50; and Anthony Reuben Riley, 48, all of Shreveport, Louisiana, were arrested today on charges of conspiracy, money laundering, failure to comply with federal banking regulations, and wire fraud. Also charged as defendants are two businesses operated by the three individual defendants: Mike’s Auto Sales Inc. and A-1 Auto Finance Company.
The 15-count indictment alleges that the defendants engaged in a conspiracy to commit money laundering beginning in 1996 through November 2010. The indictment states that the defendants’ scheme revolved around 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 indictment further alleges that the defendants knowingly accepted cash proceeds from drug dealers, allowed vehicle purchases in the names of nominees, and falsified records of payments received. The indictment further alleges that the defendants provided false information to 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 towards the purchase of those vehicles.
The indictment also charges several violations of The Bank Secrecy Act (BSA), which requires that businesses, including motor vehicle dealerships, take a number of precautions against financial crimes. One such precaution is filing and reporting certain data indicative of money laundering, including cash transactions over $10,000 on a Form 8300. The indictment charges five counts of failure to file a Form 8300 and three counts of filing a false Form 8300.
FBI press release :click here