Two Sentenced For Money Laundering In $32 Million Plot To Sell Weapons what does placement mean in money laundering

Two Sentenced For Money Laundering In $32 Million Plot To Sell Weapons what does placement mean in money laundering

Two sentenced for money laundering in $32 million plot to sell weapons

Two sentenced for money laundering in $32 million plot to sell weapons

By john pacenti

The palm beach post

January 12, 2002


There was the con man who bilked millions. The high-flying wall street guru

Whose specialities included money laundering. And an egyptian implicated in

Brokering arms deals to possible terrorists.

Then there was walter kapij. A wethersfield, conn., airplane broker with the

Mentally ill wife. Kapij was brought in at the last second to fly some cash

From supposedly illegal arms deals overseas. Guess who got the longest sentence?

Kapij was sentenced to 33 months in prison on friday, almost double the 18

Months given to his main codefendant, one-time wall street financier kevin ingram.

Admitted arms broker diaa badr mohsen was sentenced friday to 27 months for

The money laundering end of a 30-month sting into a $32 million plot to export

what does placement mean in money laundering

Arms illegally.

In the meantime, former boca raton jeweler randy glass – implicated in defrauding

Jewelry and diamond wholesalers of $6 million – started serving a seven-month

Sentence in august for working as a confidential informant in the arms case

And numerous other investigations.

The case is the clearest example of how unjust and ridiculous the federal

Criminal justice system is, kapij’s attorney james eisenberg said.

Kapij and ingram pleaded guilty to laundering $2.2 million but ingram got his

Sentence reduced to 18 months for cooperating in other cases. Ingram also paid

$205,000 in fines and forfeits.

Kapij didn’t have any information to sell or money to give, his attorney said.

Eisenberg asked U.S. District judge donald M. Middlebrooks to go below sentencing

Guidelines because of kapij’s wife’s mental illness.

Middlebrooks said no dice.

Mohsen, a former egyptian olympian, pleaded guilty in november to conspiring

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To launder $350,000 in arms sales money. He cooperated with the government in

Its post-sept. 11 investigation into individuals with terrorist ties.

Mohsen has also pleaded guilty – along with jersey city, N.J., resident mohammed

Mike malik – in the arms part of the case as well. The duo acted

As middle men to sell stinger anti-aircraft missiles and other weapons.

Both were arrested on june 12 at a west palm beach warehouse inspecting a stinger

And a M-16. Ingram and kapij were arrested the same day in fort lauderdale.

The republic of congo, pakistan and even afghanistan under the taliban have

Been mentioned as countries trying to buy weapons during the probe.

Mohsen and malik, a pakistani, are scheduled to be sentenced in february for

The arms dealing. Mohsen should face between 30 and 37 months in prison, his

Attorney said.

Mohsen also might ask the government for a further reduction in his sentence

what does placement mean in money laundering

Based on his role in helping the government fight terrorism, his attorney val

Rodriguez said.

It was mohsen who brought in alfonso pimentel, who has been indicted on passport

Fraud in the case.

Mohsen and malik have long claimed they were set up by glass.

This guy randy glass is a nasty bad guy, rodriguez said. Randy

Glass created these crimes.

But to get a reduction in his sentence, rodriguez said his client had no choice

But to snitch.

John pacenti@pbpost.Com


Copyright 2002 palm beach newspapers, inc.

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what does placement mean in money laundering

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