Oregon Agent Pleads Guilty to Money Laundering

January 5, 2011

A Portland, Ore., real estate agent pleaded guilty in federal court to one count of money laundering in a real estate transaction.

Real estate professional Chael Sonnen, who also won the Republican primary for House District 37 in the state last year, faces a maximum of 20 years in prison and a $500,000 fine. Sonnen dropped out of the Oregon state House race last year, citing a legal issue.

Prosecutors say that Sonnen was a real estate agent for a Portland home when he arranged for a title company to pay $69,000 to a plumbing company for repairs in a home that were never completed. Instead, most of the money was given to the buyer as a cash incentive to purchase the home, prosecutors say.

Source: “Portland, Ore.-area Agent Pleads Guilty to Money Laundering in Real Estate Transaction,” Associated Press (Jan. 4, 2011)