Firm Pleads Guilty to Laundering Drug Money

One of the largest check cashing services in the West and three of its top executives pleaded guilty Monday to federal charges that they laundered drug money, the U.S. attorney’s office said.

The guilty pleas before U.S. District Judge Ronald S.W. Lew in Los Angeles cap a joint FBI-Los Angeles Police investigation that began several years ago at a check cashing store in the San Fernando Valley.

After police surveillance teams noticed that drug traffickers were frequenting a Supermail outlet in Reseda, an undercover police detective and an informant were able to pass themselves off as drug dealers and win the confidence of a store manager. Authorities say the manager agreed to launder drug money in exchange for a 5% fee. According to federal prosecutors, that manager and others went on to launder more than $1 million.

Pleading guilty Monday were Supermail International Inc. of Sacramento; Christine Annette Umbertino, the company’s chief executive officer; Alberto Joseph Umbertino, its president and Mercedes Velga, a senior vice president.

The three, all from Sacramento, could be sentenced to up to 20 years in federal prison and could be fined as much as $250,000 or twice the amount of money generated by the scheme. The company faces a maximum sentence of five years’ probation and a fine of up to $500,000 or twice the gross amount of money generated by the scheme.