US attorney reports $18M in forfeitures, seizures

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Updated: 1/10/2014 1:18 pm

RENO, Nev. (AP) — Federal prosecutors say the U.S. attorney's office in Nevada collected $18 million last year in criminal, civil and asset forfeiture actions.

U.S. Attorney Daniel Bogden says about $10.5 million of that was from criminal actions, $1.6 million from civil actions and $5.9 million in forfeitures.

That includes $1.1 million worth of property from Richard Young of Lewistown, Mont., who was convicted in Nevada in March 2011 of conspiracy to commit wire fraud, wire fraud, money laundering, and securities fraud.

Young was sentenced to 25 years in prison and ordered to pay $13.3 million in restitution to more than 1,400 persons he deceived into investing more than $16 million in a fraudulent securities trading business. The forfeited property included several homes, vehicles, business properties and bank accounts holding more than $500,000.

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