Thursday, July 16, 2009

NY Councilman Admits to Fraud and Money Laundering

The NY Times reports that NY councilman Miguel Martinez has pleaded guilty on three counts of money laundering which involved him misusing funds that were intended for nonprofit organizations.

Each count carries a maximum of 20 years in prison, but prosecutors have brought that number down to 57 to 71 months of prison time. Miguel Martinez admitted to stealing about $106,000 which was intended for several city projects.

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