Laughlin Given 63 Months

October 26, 2007 - Donovan Frank Laughlin, a former general manager at Wool Growers Central Storage Co. Inc., located in Texas, was sentenced to 63 months in prison and ordered to pay $2,072,326 in restitution for money laundering.

Laughlin admitted that from March 2000 until late May 2006, he carried out a scheme to defraud wool growers by selling their mohair and wool and not paying the producers money to which they were entitled. While Laughlin did conduct legitimate sales at the direction of producers, he used that authority, without the knowledge of the producers, to arrange the sale of mohair or wool that was being held in storage at Wool Growers.

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