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by Cliff Hocker
Black Enterprise
June 19, 2001
Investment banker
arrested on charges of money laundering
Kevin Ingram, 42, a
financial industry veteran who made his name restructuring
underperforming assets at Goldman Sachs during the 1990s, was arrested
and jailed in Florida in June on money laundering charges. The Jersey
City, New Jersey, native, who was featured in a Black Enterprise cover
story, "Top Blacks on Wall Street" (October 1996), was recently
operating as an independent investment counselor before allegedly
striking an agreement with an undercover agent to launder $16 million
over the course of a year in exchange for a 25% cut.
The investigation
that resulted in Ingram's arrest originally focused on two men from
Jersey City, Mohammed Rajaa Malik, 52, and Diaa Mohsen, 57, who
authorities suspected of procuring arms for a former foreign military
official. Court documents allege that the two men negotiated a deal to
buy missiles, night-vision goggles, grenade launchers, and guns from an
undercover agent posing as an illegal arms dealer. Bond for Ingram was
set at $250,000. Prosecutors recommended Malik and Mohsen be held
without bail.
COPYRIGHT 2001 Earl G. Graves Publishing Co., Inc.
COPYRIGHT 2001 Gale Group
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