By Ben King, 14 December 2000 13:47
NEWS He was found guilty of taking part in a $4m scheme to launder money from components firm Cerplex, by a court in White Plains, New York. St Germain oversaw the sale of surplus computer parts from IBM. He allegedly channelled business to Cerplex, which would refurbish the parts and sell them back to IBM. He concealed the money he made by arranging for an accomplice to use it to buy real estate in Phoenix, Arizona. Prosecutors claimed St Germain is personally $1.7m better off as a result of the deal. He faces up to 10 years in prison, plus fines. Judges are set to pass sentence in February.
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