Rap Promoter Guilty
Philadelphia rap promoter Alton "Ace Capone" Coles was found guilty March 4th of conspiracy to distribute cocaine and with heading a continuing criminal enterprise that engaged in drug trafficking, conspiracy, wire fraud, money laundering and weapons offenses.
The federal jury deliberated more than seven days following the six-week trial. Prosecutors said Coles ran a violent drug empire that moved $25 million of powder and crack cocaine through the Philadelphia region from 1997 to 2005.
They added that Coles used his record label, Take Down Records, to launder money and buy opulent gifts for himself, including a $220,000 Bentley and $466,000 suburban home.
Coles faces possible life in prison.