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Chael Sonnen Could Face 20 Years in Prison for Money Laundering

From the Lake Oswego Review

A licensed Realtor from West Linn, Sonnen admitted before a judge Monday that he conducted a financial transaction designed to hide or disguise the ownership and control of proceeds of mortgage fraud, according to a U.S. Department of Justice press release.

Marcus Williams, a special agent in charge of IRS criminal investigations for the Pacific Northwest, issued a public statement about Sonnen’s case.

“West Linn residents, and other residents throughout the Portland-Vancouver area, can rest assured knowing that federal law enforcement agencies take mortgage fraud very seriously because it played a major role in almost crippling this nation’s banking system just a few years ago,” he said.

Money laundering carries a sentence of up to 20 years in prison and a $500,000 fine.

The Fight Lawyer has much more on the situation.