The owner of used-car lots in Chichester and Concord has pleaded guilty to laundering money through the business, including taking cash “from a person who represented that the cash was proceeds of illegal drug trafficking,” according to the U.S. attorney’s office.
Michael A. Albert, 51, of Chichester pleaded guilty in federal court on Tuesday to structuring cash deposits from his business, Mike’s Affordable Auto, for the purpose of evading bank reporting requirements, money laundering and evading reporting requirements with respect to cash transactions in excess of $10,000, according to a press release.
