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Smotherman, Krabousanos enter secret pleas


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Two defendants indicted on federal money-laundering indictments entered pleas Monday in U.S. District Court.

U.S. District Judge Aleta A. Trauger announced from the bench the court proceedings for defendants Jeremy Chad Smotherman and Michael Bryan Krabousanos were closed to the public. Their families were allowed to hear the plea.

Federal court records showed Trauger placed the proceedings and plea petition/agreement under seal. She set sentencing for March 26.

Smotherman and Krabousanos were indicted on charges of conspiracy to commit bank fraud, bank fraud, engaging in monetary transactions in property derived from specified unlawful activity and conspiracy to launder proceeds from a specified unlawful activity. Smotherman faces an additional indictment of willful failure to file a return.

In court affidavits filed in 2008, Internal Revenue Service Agent William Desantis reported Smotherman was listed as the principal owner of Greytlyn Homes, the titled owners of a Hendersonville house sold to Bryan Krabousanos. Krabousanos and Smotherman are partners in K&S Group LLC. Krabousanos is the “sham owner” of the home, the agent alleged.

The bank fraud conspiracy indictment accuses Smotherman and Krabousanos of defrauding First Community Mortgage Inc., owned by First Community Bank of Bedford County, and obtaining money under false pretenses.

They remain free while awaiting the sentencing.

 
 
 
Tagged under  federal court indictments, Jeremy Chad Smotherman, Michael Krabousanos


Member Opinions:
By: momof3 on 1/6/10
Are secrets not what got them where they are in the first place? Why do these criminals, and that's what they are - white collar or not, have the right to have their proceedings/pleas hidden away? If they committed the crime, they should face the punishment publicly like every other criminal. Even politicians, presidents, and celebrities have their criminal acts dealt with publicly. What makes these criminals any different? If they didn't want their pleas, proceedings and sentences made public, they shouldn't have committed the crimes.

By: joedog on 1/6/10
I don't believe anything they did was a secret. If the house purchases would have been done as investment property no charges would have been filed. It was stupidity on their part not to do more home work on the seriousness of buying a home and not living in it. That's the bank fraud. Using those loan proceeds to make a purchase over 10k is the money laundering. Even if you own no other homes as a personal residence at that time. If u don't move into that home and don't refinance that home you have committed a federal offense. These guys are not bad guys.

By: enoughisenough on 1/7/10
These are not good guys. They are DRUG DEALERS! They used the money from their illiscit trade to buy what they wanted, flaunting the law as they did so. A secret plea is a travesty of justice.

By: joedog on 1/7/10
I know bryan personaly he had nothing to do with any type of drug dealing. You have no idea what you are discussing. He purchased a home as an investment and didn't list the home as such. That was the crime committed. Nothing to do with drugs. Like most of the other real estate it was not a good investment and it was purchased in the wrong manner. You would not have that opinion , which is all that it is , if you new him. Get your facts straight .

By: missymomof4 on 1/8/10
What about their wives?? I will watch and wait but for savy business men I think it was not stupidity but dishonesty and greed to have more than what they could obtain legally. And at certain points in the drug chain, their are users, dealers, suppliers, and on up. To be involved doesn't mean you physically used the drugs or physically passed them along but if you had play in it at any point you are in the wrong. And didn't the wives work in banking or real estate. I think they probably all knew the legalities of their deeds. We will see.


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