At times it seems money laundering is the fourth-largest industry in Nevada, behind gambling, sex, and gold mining.
Here’s another dispatch from the money-changing front, this one coming viat WBBH-TV in Florida.
"FORT MYERS: In the afternoon session in the federal trial of Samir Cabrera, an IRS Special Agent told jurors the kicker fees on the Fiddlesticks properties were key to each project's failure. After lunch, the prosecution called IRS Special Agent Miguel Rivera. Rivera testified he examined extensive amounts of banking records for his investigation, including Samir Cabrera's personal accounts. He reiterated that Cabrera took more than $600,000 in kicker fees for himself before the Fiddlesticks projects were even developed. Rivera said if Cabrera had not taken out kicker fees for himself and partners, both Fiddlesticks projects would have survived. Instead, they were both foreclosed on in 2007. Rivera estimated Fiddlesticks 13701 would have lasted until May 2009 and Fiddlesticks 13800 would have lasted till November 2011 had kicker fees not been taken out. Rivera also detailed the federal charges against Cabrera.The first six are from investors wiring money to Cabrera.The money laundering charges are related to Cabrera allegedly wiring or moving money around from business accounts to his own personal accounts and an account in Las Vegas.
"'Looking at all the money, there was fraud,' said Rivera."