Multi-State Drug Earnings LaunderedThrough CUs
NORFOLK, Va. - (01/26/05) -- More than 20 suspects were chargedMonday and Tuesday in connection with a multi-state drug ring thatlaundered as much as $20 million in proceeds through local creditunions and banks. Among the credit unions used to launder proceedsfrom the sale of cocaine, crack and marijuana between 1996 and 2005were: Virginia Educators CU, Newport News, and Connects FCU,Richmond, according to a grand jury indictment that will bereleased Wednesday. Authorities began rounding up and arresting thesuspects Monday in Virginia, Houston, Dallas, Indianapolis,Baltimore, Charlotte and Lexington, Ky. One of the suspects chargedin the indictment, Pamela Hoffler-Riddick, is the assistantsuperintendent for schools in Prince George's County, Md., and aformer administrator for Virginia Beach Schools. She is chargedwith five counts in a 324-count federal indictment accusing her oflaundering thousands of dollars in drug proceeds through a VirginiaEducators CU account in the months following her departure from theNorfolk schools division.