CORPUS CHRISTI– A Corpus Christi man was sentenced Thursday to federal prison for conspiring to distribute cocaine in the Corpus Christi area and concealing the proceeds by purchasing and renovating homes and reselling them, federal prosecutors announced.
U.S. District Judge Nelva Gonzalez Ramos gave Jose Angel Yanez III, 30, a sentence of 135 months to be followed by a five-year-term of supervised release.
As a part of his plea agreement, Yanez forfeited his interest in four residential properties in the Corpus Christi area, more than $250,000 and three vehicles.
Valdemar Enriquez, 20, of San Antonio, who also was charged in the case, pleaded guilty to possessing with intent to distribute cocaine last March. He was sentenced Friday to 28 months in federal prison.
Yanez was determined to be a distributor of cocaine beginning on or about June 1, 2008. At that time, he began to purchase properties in the Corpus Christi area.
Agents were able to determine the proceeds from drug sales enabled Yanez to buy and renovate these houses and that Yanez believed these financial transactions enabled him to legitimize his lifestyle.
Over the course of approximately two years, Yanez bought and sold 10 houses. The investigation revealed the amount of income Yanez claimed to have made over the years could not have accounted for the lifestyle he was living.