Tuesday, November 29, 2022

Chael Sonnen Pleads Guilty To Money Laundering Charges

It doesn't seem to stop for top ranked middleweight Chael Sonnen who has pleaded guilty to Federal money laundering charges and will be sentenced the end of March. Sonnen faces up to 20 years in prison and a $500,000 fine though a plea agreement is rumored to be in place that will see Sonnen face two years of probabtion.

The Columbian.com has the story:

An Oregon real estate agent has pleaded guilty to money laundering in connection with a mortgage fraud case involving Vancouver-based Lighthouse Financial Group, which also did business under the name Crown Point Financial Services.

Chael Sonnen, 33, of West Linn, Ore., entered the plea Monday in U.S. District Court in Portland. He will be sentenced March 28. The maximum sentence is 20 years in prison and a $500,000 fine.

According to a news release, Sonnen acted as the real estate agent in a transaction involving a home in Portland, and submitted a false letter and sales agreement instructing the title company to disburse $69,000 to a contractor for plumbing repairs. However, in a deal arranged by Lighthouse employees, $65,000 of the money was actually kicked back to the buyer.