Lubbock man admits more than $100,000 of money laundering - KCBD NewsChannel 11 Lubbock

8/30/09

Lubbock man admits more than $100,000 of money laundering

By James Clark | email

LUBBOCK, TX (KCBD) - A Lubbock man admits to $110,817.74 of money laundering.   Chad W. Read pleaded guilty this previous week in federal court.  

Court records say he helped his ex-wife Emily Read steal money from the Reaction Fitness Club of Lubbock. The court records say Emily Read was a book-keeper for the club.  

The records also say Chad Read helped her with a cover up after the fact. Chad Read has paid back all but $15,000 of the stolen money. He'll be sentenced at a later date. The statutory maximum is 10 years in prison.

Emily Read was sentenced to almost three and-a-half years in federal prison last week.

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