Tracy Arnett, a 39-year-old resident of Los Angeles, has entered a guilty plea to conspiracy to commit money laundering. The announcement was made by U.S. Attorney Phillip A. Talbert.
Court documents reveal that between August 2023 and March 2024, Arnett, along with three co-conspirators, engaged in multiple financial transactions with funds they believed were proceeds from cocaine trafficking. This belief stemmed from information provided by an individual acting under law enforcement direction. The group reportedly received about $940,000 in supposed drug trafficking proceeds and laundered approximately $811,000 of that amount.
The investigation leading to this case was conducted by the IRS Criminal Investigation and the Federal Bureau of Investigation. Assistant U.S. Attorneys Matthew Thuesen and Whitnee Goins are handling the prosecution.
Arnett's sentencing date is yet to be determined. However, a status conference regarding sentencing is scheduled before U.S. District Judge Dena Coggins on June 13, 2025. Arnett could face up to 20 years in prison and a $250,000 fine. The final sentence will be decided at the court’s discretion after considering statutory factors and the Federal Sentencing Guidelines.