SAN DIEGO (AP) - A San Diego luxury car dealer has pleaded guilty to conspiracy for trying to conceal $719,000 he received from a drug trafficker who bought a Ferrari, a Porsche and other cars.
Federal prosecutors say John Mussari Jr. entered the plea Thursday to a charge of conspiracy to evade reporting requirements.
Federal laws aimed at curbing money laundering require auto dealers to report transactions where they receive more than $10,000 in cash.
Mussari, who owns Mussari Motors, acknowledged that he failed to report cash the drug dealer paid him for a Ferrari, a Porsche and two Lamborghinis.
He could face up to five years in federal prison and a $250,000 fine.
Please read our comment policy before commenting.