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Monday, June 15, 2009
New Mexico Man Pleads Guilty To Smuggling Gold
Associated Press
RICHMOND, Va. — A New Mexico man has pleaded guilty to smuggling $850,000 in gold coins into Mexico as part of a scheme to defraud the U.S. Defense Department.
Glenn Teal of Santa Fe faces up to five years in prison at his Sept. 22 sentencing. He pleaded guilty to conspiracy to smuggle goods Monday in federal court in Richmond.
The 53-year-old Teal is the fifth person to plead guilty in a conspiracy that established sham companies to sell defective or useless parts for the military's weapons systems. The conspirators used some of the $3.7 million in proceeds to buy gold.
Prosecutors said Teal delivered some of the gold into Mexico for the conspiracy's alleged leader, who is in custody in Cancun awaiting extradition.
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