Posted on: Thursday, May 31, 2001

Honolulu pair indicted in money laundering

By David Waite
Advertiser Staff Writer

A well-known Honolulu personal finance expert and his wife have been indicted by a federal grand jury on money-laundering charges.

Michael C. Haxton and his wife Yvonne B. Haxton previously had been indicted on federal charges that accused them of possessing firearms while using or possessing illicit drugs.

The latest indictment, returned by the grand jury against the Haxtons yesterday, includes the allegation that the Haxtons conspired with several men to promote the distribution of heroin in Hawai'i.

A previous affidavit filed in federal court here in connection with the case against the Haxtons, who ran the Hawaii Credit Counseling Service until recently, alleged that the Haxtons exchanged $10 and $20 bills with the men accused of distributing heroin to make it easier for the men to transport large amounts of money.

The indictment issued yesterday claims the "black tar" heroin sales brought in more than $10,000 a week, between September and April, and that the heroin distributors exchanged small denomination bills with the Haxtons at least nine times during the eight-month period.