FOR IMMEDIATE RELEASE:
THURSDAY - March 6, 2008
KNIGHTDALE MAN RECEIVES OVER 10-YEAR SENTENCE
FOR MONEY LAUNDERING
RALEIGH - United States Attorney George E. B. Holding announced that in federal court United States District Judge Terrence W. Boyle sentenced ROGER DALE RAY, 36, of Knightdale, North Carolina, to 130 months’ imprisonment.
RAY pled guilty on June 4, 2007 to one count of conspiring to launder money in violation of Title 18, United States Code, Section 1956(h). The Bill of Information alleged that beginning as early as 1998 and continuing until 2006, RAY operated several businesses and owned dozens of real estate parcels. RAY's numerous businesses afforded him relationships with financial institutions that he and others used in order to launder funds derived from the distribution of cocaine by others and his making of false statements to federally insured financial institutions.
Evidence discussed in Court reflected RAY's repeated efforts to secure real estate mortgage loans on the basis of false personal financial information. During the relevant time period RAY, acting through a number of business entities, accumulated approximately forty pieces of real estate in the Triangle area. The plea agreement provided for the United States to seize and forfeit twenty-five pieces of real estate. (A Forfeiture Notice can be found in that attached Bill of Information.) RAY further agreed to pay the United States a $3 million money judgment as part of his sentence.
United States Attorney George Holding said, "The success of this case shows that law enforcement can and will work together to identify and dismantle money laundering organizations that hide the profits of crime and corrode the stability of our financial networks."
In issuing the sentence, Judge Boyle found that Ray's crime involved the laundering of between $7,000,000 and $20,000,000. He further found Ray served as the organizer, leader, manager, or supervisor of criminal activity.
Acting Special Agent In Charge, Reginael D. McDaniel, Internal Revenue Service-Criminal Investigationstates, "Money laundering is not a victimless crime. Not only are innocent people ‘duped’ by various schemes, but the underground, untaxed economy harms the entire nation’s economic strength.”
The RAY matter was investigated by Internal Revenue Service, Criminal Investigation, the Drug Enforcement Administration - Raleigh, Wilson Police Department, and the Wake County Sheriff's Office.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.
