- 8 - Petitioner invested some of the proceeds from the Michigan transaction in legitimate business ventures. Sometime after the transaction, petitioner purchased a going concern known as Village Imports which was in the business of importing and converting "grey market" automobiles for sale in the United States. Petitioner also invested approximately $250,000 in a facility known as Ben Boat Basin. At petitioner's request, Mr. Nelson used approximately $100,000 of the cash that petitioner had received from the Michigan transaction to purchase equipment to be used in petitioner's various business ventures. Petitioner also used a portion of the proceeds to purchase gold Krugerrands. Petitioner had originally agreed to pay Mr. Nelson $100,000 for his participation in the marijuana smuggling operation. However, because petitioner earned more than twice what he had expected to earn from the transaction, he paid Mr. Nelson approximately $200,000. On August 11, 1988, petitioner was indicted in the United States District Court for the Western District of Michigan and charged with the following offenses in connection with his involvement in the transaction described above: (1) Conspiracy to possess with intent toPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011