Posted: Jun 25, 2013 8:40 AM by AP
BATON ROUGE, La. (AP) - A federal judge has ordered the corporate owners of a now-defunct Baton Rouge convenience store to forfeit nearly $1 million in money-laundering and drug-dealing proceeds to the federal government.
Katelyn & Claire Inc. and Alex T. Inc. did business as Quality Express that offered check cashing, currency exchanges and money transfers. The Advocate report (http://bit.ly/12mSeOe ) the Baton Rouge companies pleaded guilty in March to money-laundering charges and failing to file currency transaction reports.
Quality Express deposited $178.5 million into a Hancock Bank account, and another $41.9 million at Dow Louisiana Federal Credit Union, according to a May 2012 Internal Revenue Service affidavit.
Chief U.S. District Judge Brian Jackson put the companies on probation for one year in addition to ordering them to forfeit a combined $992,000-plus to the government.