Chaplin’s jewelry store owner arrested, money laundering alleged
Atlanta Business Chronicle, GA
A metro man was indicted late July 26 for allegedly taking part in a money laundering scheme that funneled illegal drug profits through his jewelry stores at Atlantic Station and at Merchandise Mart/America’s Mart in downtown Atlanta.
Toros Seher, 38, of Alpharetta, Ga., was indicted by a federal grand jury and search warrants were served at four locations in Atlanta and Alpharetta.
The jewelry stores, “Chaplin’s” and “Chaplin’s Midtown,” were also indicted. Seher was arrested without incident and is expected to have his initial appearance before a federal magistrate on Thursday.
“To make their criminal enterprises work, drug dealers need to launder the dirty money they make selling poison in our communities,” said U.S. Attorney David Nahmias. “When apparently legitimate businesses and their owners knowingly accept the proceeds of drug-dealing, they commit serious crimes and face serious consequences. Mr. Seher and his jewelry stores started facing those consequences today.”
According to U.S. Attorney David Nahmias, the indictment and search warrant affidavits, Seher’s jewelry stores, “Chaplin’s,” in the Merchandise Mart/America’s Mart in downtown, and “Chaplin’s Midtown,” in nearby Atlantic Station, were allegedly used by cooperating witnesses, cooperating defendants, and real and purported undercover IRS agents to launder drug proceeds, under Seher’s direction. In many cases, the cash amounts allegedly laundered by Seher through the jewelry stores exceeded $10,000, and at times $20,000 to $30,000, in U.S. currency for each purchase.
Under the law, cash purchases exceeding $10,000 are required to be reported to the IRS on specific forms. The indictment alleges Seher did not report these large cash transactions, and knew that the jewelry sales were being used to launder the money from criminal activity.
Cooperating defendants and witnesses provided historical information regarding the alleged money laundering habits of Seher dating as far back as 1997, when Seher opened up his first jewelry store (Diamond & Gold Depot) located inside the Greenbriar Mall in Atlanta. Starting in April 2005, IRS undercover agents made three cash purchases exceeding $10,000 from Seher, for a wedding set, a Rolex watch and two diamond bracelets. During these purchases, IRS undercover agents made audio and video tapes, which reflect Seher advising the undercover agent to “use any name and address” when filling out the forms, as well as making “choking gestures” suggesting the customer was “saying too much” regarding the source of the money.
Seher also told the undercover agents to make payments of less than $10,000 and intentionally disguised cash transactions without filling out required IRS forms.
Search warrants were executed at the two jewelry stores owned and/or operated by Seher, as well as his residence in Alpharetta and a condominium in the Atlantic Station area.
Seher faces up to 20 years in prison on each of the four counts charging money laundering or conspiracy to launder money, and up to five years imprisonment on each count of failing to file the required IRS forms for large cash transactions.
