Renton, WA man sentenced to 5 years for money laundering in family drug ring
SEATTLE - A Renton man was sentenced to five years in prison for laundering nearly $800,000 in drug proceeds, related to a distribution ring involving his son, daughter and other coconspirators.
What we know:
Frank Lozano Graves, 57, was arrested in July 2023 following a drug trafficking investigation. Graves created a fake construction company to launder the funds brought in by the ring.
Graves and his son were in contact as early as July 2022, while his son was still incarcerated. Once Graves' son got out, they were heard on wiretapped phone calls discussing their drug conspiracy. Graves' son even posted on social media about his drug trafficking.
Investigators traced drug proceeds going into Graves' accounts totaling about $800,000 over three years. Graves admitted to creating an account for a phony construction company to launder the funds.
As part of his sentence, Graves is forfeiting to the government a vehicle, jewelry and more than $15,000 in cash seized from his home.
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Graves’ son, Frank Marquis Graves, pleaded guilty on Thursday to conspiracy to distribute controlled substances and assault (for an attack on another inmate at the Federal Detention Center at SeaTac).
At the sentencing, U.S. District Judge Tana Lin said, "You knew the havoc that drugs wreak and yet you endangered your family…. You modeled for your children that drug dealing was okay, and you got them involved in it."
"IRS-Criminal Investigations is a key partner in our efforts to take the profit out of drug distribution," said U.S. Attorney Tessa M. Gorman. "The IRS-CI agents truly ‘follow the money,’ providing the evidence we need to seize bank accounts and assets such as homes or vehicles that have been purchased with drug money. In this way they do their part to remove the financial incentive of drug trafficking."
The Source: Information in this story is from the United States Attorney's Office, Western District of Washington.
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