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by Amanda Riddle
The Associated Press
December 1, 2001
WEST PALM BEACH, Fla. -- A former Wall Street bond
trader was sentenced Friday to 18 months in prison for conspiring to
launder $350,000 in a case related to a weapons sting.
Kevin Ingram, a former senior investment banker with
Deutsche Bank, agreed to launder money offered by undercover federal
agents as proceeds from illegal arms sales. Richard Lubin, Ingram's
lawyer, said his client never knew the money was from an arms deal.
"I made a horrible mistake and I did something
wrong," Ingram, 43, of Jersey City, N.J., told the judge. "I'm very
sorry about it."
Ingram could have received between three and four
years in prison, but government prosecutors recommended the 18-month
term because he agreed to testify against his co-defendants in the
laundering case.
Prosecutor Rolando Garcia said Ingram's cooperation
led Diaa Mohsen and Connecticut airplane broker Walter Kapij to also
plead guilty to money laundering.
Mohsen, an Egyptian national, and Mohammad Malik, a
Pakistani national, have pleaded guilty to trying to export
anti-aircraft missiles, night-vision goggles, rifles and other weapons
to undisclosed foreign buyers.
Copyright © 2001
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