Kevin Ingram, 42, a financial industry veteran who made his name restructuring underperforming assets at Goldman Sachs during the 1990s, was arrested and jailed in Florida in June on money laundering charges. The Jersey City, New Jersey, native, who was featured in a Black Enterprise cover story, “Top Blacks on Wall Street” (October 1996), was recently operating as an independent investment counselor before allegedly striking an agreement with an undercover agent to launder $16 million over the course of a year in exchange for a 25% cut.
The investigation that resulted in Ingram’s arrest originally focused on two men from Jersey City, Mohammed Rajaa Malik, 52, and Diaa Mohsen, 57, who authorities suspected of procuring arms for a former foreign military official. Court documents allege that the two men negotiated a deal to buy missiles, night-vision goggles, grenade launchers, and guns from an undercover agent posing as an illegal arms dealer. Bond for Ingram was set at $250,000. Prosecutors recommended Malik and Mohsen be held without bail.