- Associated Press - Thursday, September 18, 2014

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.

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