Business Owners Guilty of Money Laundering

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Three Shreveport business owners, William Paul Boyter, Michael Paul Boyter, and Anthony Reuben Riley, have pleaded guilty to charges of conspiracy, money laundering, tax evasion, wire fraud, and failure to comply with federal banking regulations. The guilty pleas were entered on Tuesday before United States District Judge Elizabeth E. Foote. Also charged as defendants in the 19-count indictment were two businesses operated by the three conspirators, Mike’s Auto Sales Inc. and A-1 Auto Finance Company.

According to evidence, the defendants conspired to commit money laundering beginning in 1996 and ending in 2010. Their scheme revolved around the sale and financing of new and used vehicles to individuals who obtained significant income from the distribution of illegal drugs. The conspirators also provided false information to law enforcement agencies to facilitate the release of vehicles seized from drug dealers.

Additionally, Michael Boyter faces tax evasion charges for intentionally understating his income on personal tax returns during the years of 2007 through 2010. He has agreed to pay back over $290,000 to the IRS.

William Paul Boyter faces up to 20 years in prison, a $250,000 fine, and three years of supervised release for the conspiracy to launder monetary instruments charge.

Michael Paul Boyter also faces 20 years in prison, a $250,000 fine, and three years of supervised release for wire fraud. He also faces five years in prison, a $250,000 fine, and three years of supervised release for the tax evasion charges.

Anthony Riley faces up to 10 years in prison, a $250,000 fine, and three years of supervised release for the failure to file Form 8300 charges.

A sentencing hearing has been scheduled for January 29, 2014.

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