Mason family charged with laundering $3 million - Cincinnati News, FOX19-WXIX TV

Mason family charged with laundering $3 million

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COLUMBUS, OH (FOX19) -

A Mason family is facing a 33-count indictment alleging they laundered $3 million through a phony life insurance policy. 

Parents Mitch Stevenson, 53, and Patricia Stevenson, 57, and their daughter Candace Stevenson, 30, are charged with conspiring to launder money and money laundering by a federal grand jury. 

The indictment alleges that two life-insurance policies were fraudulently purchased insuring another relative in 2009 for $2.9 million.

According to a release from the district attorney's office, the family "falsely stated that the relative had never been diagnosed with diabetes, high blood pressure or ulcers, among other conditions, and that the relative had not had any medication in the 12 months before the application was prepared" on the insurance application. 

In February 2009, an individual in Texas represented herself as the relative described in the insurance application, weighing 176 pounds.

"Three weeks earlier, the actual relative was weighed in a Cincinnati emergency room at 387 pounds," U.S. Attorney Benjamin Glassman stated.

One year after amendments named Patricia and Candace the beneficiaries of the two policies in 2011, the relative died. 

West Coast Life Insurance then issued a $1.5 million check to Patricia Stevenson and a $1.4 million check to Candace Stevenson.

The defendants then engaged in "a complex sequence of transactions allegedly designed to conceal and disguise the nature, location, source, ownership or control of the proceeds of the life-insurance fraud."

The family purchased a 2012 Bentley GT Convertible with the money and used a portion of it as a down payment on a land contract on a home in Mason. 

Other transactions included large purchases at World of Decor and Facet Jewelry.

Officials say the defendants could face up to 20 years in prison for the money laundering conspiracy.

Copyright 2017 WXIX. All rights reserved.

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