Posted on: Tuesday, July 17, 2001

Woman pleads guilty to money laundering

Advertiser Staff

The wife of a well-known credit service executive pleaded guilty to a single count of money laundering in federal court yesterday.

Federal prosecutors contend that Yvonne Haxton converted large sums made up of $10 and $20 bills into a far smaller number of $100 bills so it would be easier for a ring of men importing heroin from Mexico to Hawaii to transport the cash.

Haxton and her husband, Michael Haxton, formerly owned and managed Hawaii Credit Counseling Services.

Attorney Sam King Jr., who represents Yvonne Haxton, said she acknowledged in court that she traded the larger bills for smaller ones in exchange for small amounts of heroin, which she smoked.

Federal Magistrate Judge Kevin Chang set a sentencing date for late November.

The government is continuing its case against Michael Haxton, who faces money laundering and other charges.