NEW ORLEANS (AP) - A Slidell man has been sentenced to 2½ years in prison for money laundering.
Federal prosecutors say in a news release that 44-year-old Richard Zanco was sentenced Wednesday on charges involving $343,998 in bond funds that did not belong to him. Zanco pleaded guilty in March 2014.
Zanco also was given three years of supervised release.
Prosecutors say Zanco learned in 2012 that someone opened a brokerage account in his name and used the account to acquire collateralized mortgage obligations, a type of bond, by fraudulent means.
Prosecutors say Zanco gained control of the account and had interest proceeds diverted to other financial accounts he had.
Authorities say between March and September of 2013, Zanco illegally used the money to make various purchases, including multiple cars.
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