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2 admit to money laundering in Villaraigosa’s 2009 reelection campaign

LOS ANGELES (KABC) — Fines are possible for two people who admitted to making illegal contributions to Los Angeles Mayor Antonio Villaraigosa’s 2009 reelection campaign.

Young Ran Kim and Cindy Baek admitted to laundering money to contribute more than the allowable amount. Kim and Baek reimbursed other people for their contributions.

The city ethics commission wants to fine the two up to $20,000. The District Attorney’s Office says Villaraigosa did not know about the scheme.

Baek admitted to laundering the money during a grand jury investigation she took part in. She was testifying against Koreatown mortgage firm executive Alexander Hugh and escrow officer Annette Lee for their part in a 2009 scheme to cover the tracks on donations to Villaraigosa’ political committee…read full article