Updated 10/12/2012 04:38 PM
2 Yassine brothers found guilty of money laundering, 1 not guilty
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The jury in the federal money laundering trial of three Yassine brothers has found Mike and Hadi guilty on all charges and the third brother, Steve Yassine, not guilty.
Hadi Yassine will remain free on a $25,000 bond while his brother Mike will stay jailed. Steve Yassine will also remain jailed on drug-related charges which stem from the federal investigation into Yassine Enterprises.
A sentencing date for Steve and Mike Yassine has yet to be determined.
The jury's decision came on the third day of jury deliberation.
Hadi Yassine (LEFT), Mike Yassine (CENTER), Steve Yassine (RIGHT)
Seven days of courtroom testimony and evidence revealed what prosecutors call proof of a drug money laundering operation concealed through several downtown bars the Yassine brothers owned.
According to FBI Special Agent Donald Holstead, federal officials received a "tip" in 2006. In previous testimony, Holstead told the court law enforcement suspected illegal activity was occurring inside the bars owned by Yassine Enterprises. Holstead also said they "could not penetrate the Yassine empire."
In 2007, the FBI contacted former employee Moe Yassine, who was a known street level drug dealer. The Yassine cousin was living in Colorado after he was fired by Mike Yassine for more than $8,200 in theft.
Moe served as a federal information and as the prosecution's main witness during the money laundering trial. His character was called into question several times by the defense.
Since 2007, Moe Yassine and his family have earned more than $344,000 for his undercover work. He remains on the government payroll.