Eight individuals have been arrested and charged with crimes including conspiracy to commit federal registration violations involving aircraft, international drug trafficking, money laundering, wire fraud and export violations. The indictment alleges that the defendants concealed the ownership and export status of aircraft held in trust through Aircraft Guaranty Corporation (AGC), an aviation trustee service provider originally based in Onalaska, Texas. The indictment also states that a number of aircraft held in trust by AGC were deregistered or ownership was transferred after they were seized carrying drugs. In addition, individuals involved were charged with running a Ponzi scheme related to the acquisition of aircraft.
This is a companion discussion topic for the original entry at https://www.avweb.com/aviation-news/eight-indicted-for-aircraft-registration-violations-drug-trafficking