Ex-California Assemblyman Sentenced for Money Laundering

A former California Assemblyman who laundered hundreds of thousands of dollars that were supposed to be invested in San Francisco Bay Area coffee shop projects was sentenced Wednesday to a year and a day in federal prison.

Terrence Goggin, 79, was sentenced for money laundering under a plea deal. A judge rejected a defense argument that he was too old and ill to go to prison, saying it would send a “wrong message,” the Bay Area News Group reported.

Goggin also was ordered to repay $685,000, the amount of money prosecutors said he took from investors in 2013 to build coffee shops at two Bay Area Rapid Transit stations

→ Continue reading at NBC Bay Area

More from author

Related posts

Advertisment

Latest posts

How an Executive Coach Can Help Boost Revenue

February 12, 2021 7 min read Opinions expressed by Entrepreneur contributors are their own. Remember as a child when your parents took you to your...

Facebook restricts Myanmar military's accounts for spreading 'misinformation'

The social media company said Thursday that it was "treating the situation in Myanmar as an emergency," adding that it would "significantly reduce...

'There's never been a time like this': Wall Street is piling into trading cards as prices soar

In early February, a Michael Jordan rookie basketball card in pristine condition sold for a record $738,000 at an auction run by Goldin's...