Cite as: 516 U. S. 29 (1995)
Opinion of the Court
accounting supervisor, earning a salary of approximately $40,000 per year. Presentence Report ¶¶ 35-37.
Included in the presentence report was a prosecutor's statement detailing the amounts of cocaine and marijuana involved in Libretti's drug operation and various sums of money Libretti earned from his drug dealing. App. 122- 135. The statement described Libretti's substantial expenditures, including the $100,000 cash deposit on a house in 1985 ($72,000 of which was derived from Libretti's sale of drugs) and the purchase of a $20,000 mortgage in 1986 (again, allegedly with proceeds from his distribution of drugs). Id., at 123. Paragraph 12 reported that Libretti had opened a safe deposit box in 1987 in which he placed $48,000 in cash. On another occasion, Libretti placed approximately $10,000 into an account bearing his brother's name. Id., at 124-125. The statement described Libretti's practice of storing large amounts of cash and drugs in safes, storage lockers, and safe deposit boxes. Id., at 124, 129. Libretti also stored drugs, a weapon, and a cashier's check for $65,000 in his personal locker at his place of employment. Id., at 129. The statement related Libretti's investment of at least $243,000 in numerous firearms. Id., at 123-124. These funds again reportedly derived from Libretti's drug distribution activities; the statement indicated that "Libretti's gun business was used to launder drug proceeds" and served as a means by which Libretti could "justify his income since [he] was not working at times during the conspiracy and, when he was working, was not bringing in the money that would pay for the Lakewood house and other investments." Id., at 127. Finally, the statement suggested that substantial sums of cash derived from Libretti's drug activities were never recovered by law enforcement authorities. Id., at 134. Defense counsel conceded at the sentencing hearing that "the [presentence] report of Mr. Libretti's background, education, financial circumstances are [sic] accurate." Id., at 138. In light of these facts, defense counsel acknowledged that "the
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