United States Attorney Kenneth Magidson announced Thursday that a local man, Jose Angel Yanez III, 30, has been sentenced to 11 years in federal prison.
Yanez pled guilty on March 23, to charges of conspiring to distribute cocaine in the Corpus Christi area and laundering the proceeds by purchasing and renovating homes to resell them.
At Thursday's hearing, U.S. District Judge Nelva Gonzalez Ramos gave Yanez a total sentence of 135 months in prison, followed by a five-year term of supervised release. Part of the plea agreement for Yanez was to forfeit interest in four of his residential properties, along with more than $250,000 and three vehicles.
A San Antonio man, Valdemar Enriquez, 20, was also charged in the case after pleading guilty to possession with intent to distribute cocaine on March 1. His sentencing hearing is set for Friday.
Investigators determined that Yanez has been a cocaine distributor since June 1, 2008. Proceeds from drug sales made it possible for Yanez to begin purchasing properties in the Corpus Christi area around that same time. He purchased, renovated and sold 10 houses over the course of two years.
Yanez will remain in federal custody, where he has been since his guilty plea, until being transferred to a U.S. Bureau of Prisons facility that will be designated in the near future to serve out his sentence.