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LAS VEGAS (AP) — A suspended Nevada attorney has been sentenced to a year and a day in prison for helping launder money that federal prosecutors say came from a fraudulent online scheme that bilked more than 1,400 investors out of $16 million.
U.S. District Judge Kent Dawson sentenced R. Christopher Reade on Tuesday for his guilty plea in January to one charge of accessory after the fact to laundering of monetary instruments.
Reade practiced business law in Las Vegas until he was suspended by the Nevada Bar.
He was accused in in Las Vegas of laundering the money on behalf of Rick Young, the owner of Global One Group LLC in Nevada.
U.S. Attorney Daniel Bogden says the web business said it could train people to trade in foreign currency exchange markets.
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