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Co-Owner of Shady Beverly Hills Business U.S. Private Vaults Had ‘Extensive’ Criminal Empire, Feds Allege

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A co-owner of a Beverly Hills safe deposit box business that allegedly helped criminals hide their ill-gotten gains from authorities acquired his stake in the company using dirty money he amassed through drug trafficking, health-care fraud, online marketing scams utilizing the names of unwitting celebrities, and even a fraudulent PPP loan, federal prosecutors claim.

In March, DEA, FBI, and U.S. Postal Inspection Service agents raided U.S. Private Vaults, Inc.—a storefront located in a strip mall that required an iris scan for access— seizing drugs, weapons, gold bullion, and $86 million in cash. Prosecutors charged the business with conspiring to launder money, structure financial transactions, and distribute controlled substances.

An onsite jewelry store allegedly helped “customers convert their cash into gold, and structured their cash transactions to avoid federal reporting requirements.” The listed owners of U.S. Private Vaults, CEO Mark…

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