10 years for man who made $1.5M laundering drug money
NEW ORLEANS (AP) — A man convicted of laundering money for New Orleans heroin dealers has been sentenced to 10 years in prison and a $100,000 fine, and must forfeit $700,000.
Acting U.S. Attorney Duane Evans said in a news release Thursday that 51-year-old Cornell Pendleton made $1.5 million in cash bank deposits over 2½ years, knowing they included illegal drug money.
Investigators said he’d buy real estate, fancy cars and other high-end assets in his own name, letting drug dealers use them while they paid him under the table in cash. Once something was fully paid, Pendleton often would transfer title to the drug dealer.
He was convicted on numerous counts after a week-long trial.
Judge Jane Triche Milazzo sentenced him Thursday.
A dozen heroin dealers were convicted earlier in a related investigation.