The Region - News from Feb. 22, 1985
Two Iranian-born brothers were convicted in Los Angeles federal court for a scheme to launder $450,000 in drug profits at a Beverly Hills bank to avoid paying taxes on the money. Prosecutors contended that Ali Reza Naimi Mohases, 34, and Mohamad Reza Naimi Mohases, 29, went to an office of the Commercial Bank of California (now known as First Credit Bank) and induced a loan officer to deposit the money, mostly in $20 bills, without complying with federal currency-reporting requirements. Assistant U.S. Atty. Laurie L. Levenson said it was part of a plan to launder $1.8 million in drug profits between 1978 and 1980. The two face maximum prison sentences of 13 years and fines of $513,000 when sentenced March 21 by U.S. District Judge Richard A. Gadbois Jr.
For the record:
12:00 a.m. March 7, 1985 For the Record
Los Angeles Times Thursday March 7, 1985 Home Edition Part 1 Page 2 Column 1 Metro Desk 2 inches; 54 words Type of Material: Correction
In its editions of Feb. 22, The Times erroneously reported that two Iranian-born brothers, Ali Reza Naimi Mohases and Mohamad Reza Naimi Mohases, were convicted in federal court of a scheme to launder drug profits at a Beverly Hills bank. In fact, the two men were found guilty of conspiring to violate currency reporting laws and using a banker to engage in a pattern of violating those laws.
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