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Site Map FORMER WALL STREET STAR FALLS FROM GRACE |
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by Cliff Hocker Black Enterprise June 19, 2001 Investment banker arrested on charges of money laundering Kevin Ingram, 42, a financial industry veteran who made his name restructuring underperforming assets at Goldman Sachs during the 1990s, was arrested and jailed in Florida in June on money laundering charges. The Jersey City, New Jersey, native, who was featured in a Black Enterprise cover story, "Top Blacks on Wall Street" (October 1996), was recently operating as an independent investment counselor before allegedly striking an agreement with an undercover agent to launder $16 million over the course of a year in exchange for a 25% cut. The investigation
that resulted in Ingram's arrest originally focused on two men from
Jersey City, Mohammed Rajaa Malik, 52, and Diaa Mohsen, 57, who
authorities suspected of procuring arms for a former foreign military
official. Court documents allege that the two men negotiated a deal to
buy missiles, night-vision goggles, grenade launchers, and guns from an
undercover agent posing as an illegal arms dealer. Bond for Ingram was
set at $250,000. Prosecutors recommended Malik and Mohsen be held
without bail. |