Posted: Friday, February 3, 2012 8:30 am

http://host.madison.com/ct/news/local/crime_and_courts/holman-man-pleads-guilty-in-drug-dealing-money-laundering-case/article_e3dc227a-4e71-11e1-a24a-0019bb2963f4.html

A Holmen man pleaded guilty on Wednesday to charges of dealing cocaine and laundering the money gained from the drug operation.

Joseph Loomis, 28, made guilty pleas before U.S. District Judge Barbara Crabb in federal court in Madison.

If convicted on the drug charge, he faces a mandatory minimum 10 years and a maximum of life in prison. The money laundering charge carries a maximum penalty of 20 years in prison.

According to a news release from the U.S. Department of Justice, Loomis distributed at least 15 kilograms (about 33 pounds) of cocaine in the La Crosse area from approximately April 2006 to September  2008, and also distributed marijuana from 2006 to 2011.

Investigators also found Loomis was laundering the drug money through a Netspend stored value card by depositing large sums of money into the card account and then using the card to buy items at high-end retailers including Gucci, Tiffany and Louis Vuitton.

"The investigation revealed Loomis told a drug associate he thought the card was untraceable," the release said.

Loomis is scheduled to be sentenced on March 29.

The investigation was conducted by the Internal Revenue Service, the Drug Enforcement Administration, the Wisconsin Department of Justice Division of Criminal Investigation, the La Crosse Police Department and the Onalaska Police Department.