Chael Sonnen at Dec. 2 hearing before CSAC

Chael Sonnen at Dec. 2 hearing before CSAC

UFC fighter Chael Sonnen, recently in the spotlight for a suspension related to a failed drug test related to UFC 117, plead guilty to one count of federal money laundering on Monday, according to a press release from the U.S. Attorney’s Office in Oregon.

Sonnen admitted that a financial transaction designed to hide or disguise the ownership and control of proceeds of wire fraud.

The money laundering carries a sentence of up to 20 years in prison and a $500,000 fine.

“The scheme involved Joel Rosabal and Chadwick Amsden, employees of Crown Point Enterprises, dba Lighthouse Financial Group (Lighthouse), a mortgage brokerage service based principally in Vancouver, Washington, with operations in Oregon and elsewhere,” the press release revealed. “Rosabal and Amsden submitted a materially false loan application on the buyer’s behalf… Sonnen acted as the realtor for the transaction. Sonnen submitted a false letter and Sales Agreement Addendum instructing the title company to pay loan proceeds to a plumbing company for repairs to the home. In fact, Sonnen knew and had negotiated with Rosabal that no repairs would be performed on the home and the funds designated to the plumbing company would instead be paid to the buyer as a cash incentive to purchase the home. This agreement was not disclosed to (the mortgage company). Once the loan was funded, the title company paid over $69,000 to the plumbing company and the plumbing company, in turn and at Sonnen’s direction, paid $65,000 to the buyer of the home.”

A report on The Oregonian’s web site said that the government is recommending Sonnen be sentenced to two years of probation. It went on to state that as part of a plea deal, Sonnen agreed to give up his Realtor’s license and pay a $10,000 fine, according to Michelle Holman Kerin, the assistant U.S. attorney handling the case.

Sentencing for the money laundering charge is set for March 28, which would be less than two weeks after UFC 128.

Sonnen had a one-year suspension for the positive drug test result reduced to six months at an appeal before the California State Athletic Commission in December. His suspension is up March 2. He would then be eligible to return to fighting.

MMAJunkie.com is reporting that he will return at UFC 128 to face Yoshihiro Akiyama.

Sonnen had not returned a request for comment prior to the time of publication.

(UPDATED at 8:55 p.m. PT on Jan. 3, 2011 – Added information regarding Sonnen’s plea agreement and the possibility of him fighting at UFC 128.)

view original article >>
Report here if this news is invalid.

Related News

Luke Barnatt announces his release from the UFC

  • 27 days ago
  • 65 views

There will be no more "Bigslow" in the UFC. At least for now. Luke Barnatt, the popular British middleweight, announced on social media Thursday that he has been released by the organization after th read news >>

'TUF 17' veteran Luke Barnatt announces release from UFC after three-fight skid

  • 27 days ago
  • 1 views

Luke Barnatt, the top pick on Season 17 of “The Ultimate Fighter” and winner of his first three UFC bouts, has been released from the UFC.Filed under: News, UFC read news >>

Chael Sonnen shoots down MMA return, feels inspired by Daniel Cormier

  • 27 days ago
  • 51 views

Retired UFC fighter Chael Sonnen was inspired by fellow wrestler Daniel Cormier's title win at UFC 187, but says a return to MMA isn't likely for himself. Despite being retired from MMA, former multi read news >>

Chael Sonnen feels 'young again' thanks to Daniel Cormier, beats back MMA return rumors

  • 28 days ago
  • 46 views

Mixed martial arts fans (MMA) who hope to see "American Gangster" back inside the Octagon would be better off not holding their breath, as the 38-year-old confirmed he has no plans to return to the s read news >>

New 'UFC Lab' facility to be hub for athlete training, injury rehabilitation

  • 28 days ago
  • 0 views

While much of today's UFC press conference was centered around the new drug testing policies, there was another new program unveiled by the promotion. In addition to the dominating discussion over th read news >>

UFC announces 'UFC Lab' to promote athlete training and rehabilitation

  • 28 days ago
  • 3 views

The UFC announced their Athlete Marketing and Development Program on Wednesday at a press conference in Las Vegas, Nevada. Much of the presser and the program centers on the UFC's attempts to promote read news >>

New UFC drug-testing press conference recap, notes and highlights

  • 28 days ago
  • 1 views

There was a lot to unpack during today's presser, but we've got you covered with all of the important details below. Ultimate Fighting Championship (UFC) held a special press conference earlier today read news >>

Chael Sonnen: I love the entertainment value of Conor McGregor, but Jose Aldo runs through him

  • 28 days ago
  • 243 views

Chael Sonnen doesn't think Conor McGregor will have much of a chance against Jose Aldo. Conor McGregor is brash, charismatic and he speaks his mind, and this is why he has been likened to Chael Sonne read news >>

UFC press conference live stream: Athlete Marketing and Development Program

  • 28 days ago
  • 4 views

Watch the UFC press conference unveiling their new Athlete Marketing and Development Program at 2 PM ET/11 AM PT right here on Bloody Elbow. Today the UFC is holding a special press conference at the read news >>

Live stream: UFC press conference video feat. new drug-testing program, athlete marketing and development

  • 28 days ago
  • 0 views

Ultimate Fighting Championship (UFC) will hold a special press conference today (Weds., June 3, 2015) in conjunction with its annual fighter summit in Las Vegas, Nevada, to unveil its new and improve read news >>