Bankers Looking Closely at Auto Dealers for Signs of Money Laundering

By Brian Monroe

Auto dealership owner Michael Miller said narcotics traffickers should never do business in their own names. When drug dealers paying cash visited three of his lots in the Cleveland area, he sold them cars registered in employees' names, according to authorities. Miller, charged last week with money laundering and other crimes, also took cash from drug dealers to auctions where he bought luxury and sports cars for resale, court records show. He then returned the money to the traffickers in the form of commission checks, according to a 37-count indictment issued March 7 by a federal grand jury. Miller, who...