Los Angeles—A husband-and-wife duo that owned precious metals businesses in the downtown Los Angeles Jewelry District have pleaded guilty to federal criminal charges for allegedly concealing more than $100 million dollars in cash transactions from the United States government.
The couple also failed to maintain an anti-money laundering program and used the unreported cash at other family businesses, at a casino, and for other personal expenses, according to a press release from the U.S. Attorney’s Office, Central District of California.
Alex Nguyen, 50, and Sam Nguyen, 52, both residents of Irvine, California, and one of their companies, Newport Gold Post Inc., pleaded guilty to one count of conspiracy…