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October 12, 2011

Convicted drug dealer laundered money, hid cash

Coming off revelations by The Sun's Justin Fenton on the lavish lifestyle of a reputed drug dealer, the Maryland U.S. Attorney's Office gives us another example today.

A federal judge sentenced Eric Hellams, 40, to more than 10 years in prison for drug dealing and money laundering. Prosecutors said he distributed heroin in the Baltimore area from 2003 through 2009.

Prosecutors said he hid his drug proceeds by laundering up to $1 million, some of it by refinancing a home in Upper Marlboro, listing an annual income of $178,764. Authorities said that when they searched his home, they found $98,875 hidden in an attic crawl space, a bullet-proof vest, jewelry -- including Rolex, Gucci and Cartier watches -- necklaces and Tiffany bracelets.

The feds also said he had a 2008 Mercedes-Benz coupe -- monthly payments $2,200 -- and a Toyota Truck. Prosecutors said they found $1,220 in an apron pocket.

Posted by Peter Hermann at 1:25 PM | Permalink | Comments (1)
Categories: Courts and the justice system, Crime elsewhere

Comments

Damn money laundering can make people a lot of money these days. Why would he claim almost $180,000 annually? That's a ridiculous amount of money.
If you don't know how money laundering works, this article explains it very well.

http://explainlikeakid.blogspot.com/2011/09/explanation-on-money-laundering.html

Posted by: Mike | October 12, 2011 7:26 PM

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About Peter Hermann

Peter Hermann started covering news for The Baltimore Sun in 1990, first in Anne Arundel County and, starting in 1994, reporting on the Baltimore Police Department. In 2001, he was assigned to Jerusalem as the Baltimore Sun's Middle East correspondent. He returned in 2005 as an assistant city editor overseeing crime coverage. In 2008, Peter returned to the beat as a daily reporter and blogger. A recent BBC report featured him in a segment on the harsh realities of covering crime in Baltimore.

Coverage will focus on crime trends, problems in neighborhoods in the city and elsewhere, profiles of victims and police officers and try to offer readers a fresh perspective on one of the most vexing issues facing Baltimore and its future.

Contributing to this blog is Justin Fenton, who joined The Sun in 2005 and has covered the Baltimore City Police Department and the criminal justice system since 2008. His work includes an investigation into Cal Ripken Jr.’s minor league baseball stadium deal with his hometown of Aberdeen, a three-part series chronicling a ruthless con woman, coverage of the killing of five Amish children at a schoolhouse in Nickel Mines, Pa., and a job swap with a British crime reporter to explore differences in crime-fighting. A special report looking into how city police handle rape cases led to sweeping reforms that changed the way sexual assaults are investigated in Baltimore. He was recognized as the best reporter in Baltimore by the City Paper in 2010 and by Baltimore Magazine in 2011.

Follow @phscoop, @justin_fenton on Twitter