U.S. Attorney Phillip Talbert | U.S. Department of Justice
Tracy Arnett, a 39-year-old resident of Los Angeles, has entered a guilty plea to charges of conspiracy to commit money laundering. This announcement was made by U.S. Attorney Phillip A. Talbert.
Court documents reveal that between August 2023 and March 2024, Arnett and three accomplices engaged in several financial transactions with funds they believed were derived from cocaine trafficking. Their belief was influenced by an individual acting under law enforcement guidance. The group reportedly received around $940,000 in what they thought were drug trafficking proceeds and laundered approximately $811,000 of this amount.
The investigation leading to these charges was conducted by the IRS Criminal Investigation unit and the Federal Bureau of Investigation. Assistant U.S. Attorneys Matthew Thuesen and Whitnee Goins are handling the prosecution.
A sentencing date for Arnett is yet to be determined. He is scheduled for a status conference concerning his sentencing before U.S. District Judge Dena Coggins on June 13, 2025. Arnett could face up to 20 years in prison along with a $250,000 fine. However, the final sentence will be decided by the court after considering statutory factors and Federal Sentencing Guidelines.
