Anchorage Man Indicted For Conspiracy To Launder $743,000 In Drug Proceeds

Anchorage, Alaska - U.S. Attorney Karen L. Loeffler announced today that a federal grand jury has indicted another individual in connection with the seizure of large quantities of cocaine, methamphetamine, and cash late last fall.  Loeffler indicated that this most recent indictment is related to several other drug trafficking cases announced late last year and that this new charge involves the laundering of nearly three quarters of a million dollars in drug proceeds.

The indictment announced today charges David Frazier, 52, of Anchorage, Alaska with one count of conspiring with others to launder the proceeds of drug trafficking.  Frazier is the only defendant charged in the indictment.

According to the indictment, over the course of a four month period in 2013, Frazier worked with his co-conspirators to launder the proceeds earned from the sale of controlled substances.  Frazier allegedly laundered the cash in order to promote his and his partners’ continued drug sales.  In addition, the indictment alleges that, upon conviction, Frazier must forfeit any property involved in the money laundering scheme, including but not limited to the $743,000 in cash that can be linked to his criminal activities.

Assistant United States Attorney Stephanie Courter, who presented the case to the grand jury, indicated that, if convicted, Frazier faces a sentence of up to 20 years in prison, as well as a fine of up to $500,000.  Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the amount of drugs and money involved and any prior criminal history of the defendant.

This case is being prosecuted by Assistant U.S. Attorney Stephanie C. Courter.  The case originated as part of a multi-agency investigation involving the Internal Revenue Service Criminal Investigation (IRS-CI), the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Postal Inspection Service (USPIS), U.S. Immigration and Customs Enforcement (ICE), which oversees Homeland Security Investigations (HSI), the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), the Anchorage Police Department (APD), and the Alaska State Troopers (AST), and the Anchorage Airport Police Department.

An indictment is only a charge and is not evidence of guilt.  A defendant is presumed innocent and is entitled to a fair trial at which the United States must prove guilt beyond a reasonable doubt.