Mail fraud, tax evasion: Deeb pleads guilty
By GREG JORDAN
Bluefield Daily Telegraph
Apr 8, 2008
— BLUEFIELD — A McDowell County pharmacist facing a 2006 federal indictment in charges of illegal transactions and running an illegal gambling business entered a guilty plea Friday in Charleston.
Saad Kamil Deeb, no age available, of Welch pled guilty to a three-count federal information that included charges of conspiracy to illegally structure fraudulent transactions, tax evasion, and mail fraud, according to information at the U.S. District Court for the Southern District of West Virginia. The plea was made at the federal court in Charleston.
Deeb was indicted Nov. 8, 2006 on 29 counts of illegally structuring financial reactions and one count of conspiracy to illegally structure financial transactions. The federal indictment alleged that Deeb, owner and operation of Deeb Drug, Inc., also known as Citizens Pharmacy and as Citizens Drug Store, in Welch, structured accounts to avoid mandated reporting procedures from 2001 to 2005.
When Deeb was indicted, the IRS alleged that from March of 2001 to December 2005, he received $1,449,770 in international wire transfers from the Deutche Bank in Switzerland, Fun & Sun Investments in Curacao, Netherlands Antillies and others in amounts of a few dollars less than $200,000.
The government alleged that Deeb conspired with others to illegally structure financial transactions at MCNB Bank and Trust Co., formerly McDowell County National Bank, to avoid reporting them to the IRS. The transactions were in connection with an illegal gambling business, according to the indictment.
In addition to the charges, the government was also seeking forfeiture of Riverside Drive property in Welch, a 2002 Mercedes Benz four-door sedan, a 1999 Toyota Land Cruiser V-8, a 2000 Toyota 4-Runner, a 1949 Packard, one 1951 Dodge and a 2004 Toyota Tundra.
Under the plea agreement, Deeb agreed to transfer to the government any real or personal assets up to $871,300, according to court documents.
On the first and second counts, Deeb faces up to 5 years imprisonment, a $250,000 fine or twice the gross pecuniary gain or loss from his conduct, whichever is higher, and three years supervised release. On the mail fraud charge, he faces up to 20 years imprisonment, the same type of fine as in the first two counts, and three years supervision.
In the plea agreement, the government dismissed the remaining count of the indictment.
Sentencing was scheduled for 11:30 a.m., Aug. 5 before Judge David A. Faber in Bluefield. Deeb remains free on bond.  |