A Pinehurst man's sentencing hearing has been rescheduled again in a federal criminal case for money laundering and drug charges. Last December, the man pleaded guilty to conspiracy to launder monetary instruments and conspiracy to distribute and possess more than 220 pounds of marijuana. The details of his plea agreement are sealed until the U.S. District Court judge accepts them.
According to federal prosecutors, the man has also agreed to forfeit at least $1 million from the assets he acquired from unlawful activities. The prosecutors have asked that a judgment be entered against the man for the $822,804 that he agreed to forfeit. He had already agreed to give up the remaining balance of the $1 million. Currently, the government does not have the money and they don't know where it is.