Lawyer pleads guilty in Vegas cash laundering case

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Updated: 1/22 6:18 pm

LAS VEGAS (AP) — A 43-year-old Nevada attorney is admitting he helped launder money that federal prosecutors say came from a fraudulent online scheme that bilked more than 1,400 investors out of $16 million.

U.S. Attorney Daniel Bogden says R. Christopher Reade pleaded guilty Wednesday to one charge of accessory after the fact to laundering of monetary instruments.

Reade could face up to 10 years in prison and a more than $1 million fine at sentencing May 2.

Reade is a licensed attorney practicing business law in Las Vegas.

He was accused in U.S. District Court in Las Vegas of laundering the money on behalf of Rick Young, the owner of Global One Group LLC in Nevada.

Bogden says the web business said it could train people to trade in foreign currency exchange markets.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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bluidbln - 1/27/2014 10:32 PM
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He will do minimal jail time (if any) in a country club prison for federal white collar crimes. All said and done .... fined $1 million out of $16 million isn't bad so it looks like money laundering is the new way to go.
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