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Used-Car Dealer to Forfeit $1.5M

October 24, 2013

SEATTLE — Zein Automobiles, a used-car company, pleaded guilty Wednesday to a charge of failing to file a monetary transaction report. As part of the plea, the company has agreed to forfeit $1.5 million and pay a $250,000 fine, the Associated Press reports.

Drug Enforcement Administration agents raided the dealerships owned by Zein Automobiles in September. The agency alleged the dealerships failed to report cash transactions over $10,000, and allowed drug traffickers to launder their profits by purchasing vehicles.

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