LAKE OSWEGO RESIDENT SENTENCED TO FEDERAL PRISON AND FORFEITS OVER $500,000 FOR COCAINE TRAFFICKING AND MONEY LAUNDERING
U.S. Attorney's Office - District of Oregon PORTLAND, Ore.—A Lake Oswego, Oregon, man was sentenced to federal prison today for trafficking cocaine and laundering the proceeds through a business bank account to buy cryptocurrency. Michael Wayne Frost, 47, was sentenced to 72 months in federal prison and five years of supervised release. He was also ordered to forfeit over half a million dollars’ worth of assets involved in his money laundering offense, including cryptocurrency and cash. According to court documents, law enforcement officers engaged in multiple controlled purchases of cocaine from Frost. On July 2, 2024, a federal search warrant was served on Frost’s residence in Lake Oswego. Agents seized a kilogram of cocaine and about $20,000 in cash from the residence. Agents later applied for additional warrants and seized more than $509,000 in cash and cryptocurrency tied to the cocaine sales. Frost deposited some of the cash into a business bank account he controlled...