SAN ANTONIO – A San Antonio businessman pleaded guilty to a money laundering conspiracy on Tuesday, according to the Department of Justice.
Karen Mgerian, 41, pleaded guilty to one count of conspiracy to commit money laundering after admitting he conspired to launder millions of dollars of drug proceeds through a scheme that included the sale of luxury cars, authorities said.
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Mgerian was arrested on Jan. 31 and faces up to 20 years in federal prison, authorities said.
Mgerian has other co-defendants.
Jose Luis Magallon, Jr., 29, of San Antonio, is charged with one count of conspiracy to commit money laundering and seven substantive counts of money laundering. Jose Antonio Rodriguez-Hernandez, 39, and Luis Emilio Mireles-Morales, 26, are both charged with one count of conspiracy to commit money laundering and two substantive counts of money laundering. Carlos Menendez-Stanziola, 42, is charged with one count of conspiracy to commit money laundering and one substantive counts of money laundering.