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Mason City car dealer pleads guilty to money laundering

Undercover agents say he agreed to take drug money in exchange for a car.

Posted: Dec. 5, 2018 3:49 PM

CEDAR RAPIDS, Iowa – The owner of a Mason City car dealership is pleading guilty to money laundering.

Jerry T. Flaherty, the owner of Wheel Man Auto, entered a guilty plea in Cedar Rapids Federal Court to one count of money laundering.

No sentencing date has been set.

According to court documents, Flaherty met with undercover law enforcement agents in March and April of 2014 and agreed to sell them a car for $20,500. Authorities say Flaherty believed the money he was being given came from the sale of illegal drugs, agreed to fraudulently record it as a $15,000 credit card sale instead of a $20,500 cash transaction, and put the title to the car under someone else’s name.

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