SHREVEPORT, La. — United States Attorney Stephanie A. Finley announced that three dealership operators were arrested today on charges of conspiracy, money laundering, failure to comply with federal banking regulations and wire fraud.

Charged were William Paul Boyter, 75, Michael Paul Boyter, 50, and Anthony Reuben Riley, 48. Also named in the complaint were Mike’s Auto Sales Inc. and A-1 Auto Finance Company, which are operated by the three defendants.

The 15-count indictment alleges that the defendants engaged in a conspiracy to commit money laundering from 1996 to November 2010. The indictment states that the defendants’ scheme revolved around the sale and financing of used and new vehicles to individuals whose income allegedly derived from the distribution of illegal drugs.

The indictment further alleges that the defendants knowingly accepted cash proceeds from drug dealers, allowed vehicle purchases in the names of nominees, and falsified records of payments received. The indictment further alleges that the defendants provided false information to law enforcement agencies, including the Shreveport Police Department and the Harrison County Sheriff’s Office, to facilitate the release of vehicles seized from drug dealers.

In 2009 and 2010, the FBI conducted multiple “sting” operations directing cooperating individuals to purchase vehicles in the names of nominees and using large cash payments toward the purchase of those vehicles.

The indictment charges five counts of failure to file a Form 8300 and three counts of filing a false Form 8300. A notice of forfeiture is also included within the indictment for property owned by the businesses as well as personal property.

The indictment is the culmination of an investigation dubbed Operation NOMAS and conducted by the Organized Crime Drug Enforcement Task Force (OCDETF),  a joint multi-agency group consisting of federal, state, and local law enforcement agencies.