MASON CITY — The owner of a Mason City auto dealership has pleaded guilty to money laundering.
Jerry T. Flaherty, who owns Wheel Man Auto, is accused of meeting with undercover law enforcement agents in March and April of 2014, agreeing to sell them a car for $20,500. Authorities say Flaherty believed the money he was being given came from the sale of illegal drugs, that he agreed to fraudulently record it as a $15,000 credit card sale instead of a $20,500 cash transaction, and put the title to the car under another person’s name.
Flaherty recently in US District Court in Cedar Rapids entered a plea of guilty to one count of money laundering. A sentencing date has not been set.