Ex-Minn. diamond seller admits dealing in pot 02 Feb 12

MINNEAPOLIS (AP) – A former diamond seller in southeastern Minnesota has admitted to dealing in high-grade marijuana and stolen gems.

Thirty-nine-year-old Richard Kay of Zumbro Falls pleaded guilty Tuesday in federal court to trafficking in marijuana, transporting stolen goods and 11 counts of money laundering.

Kay did business in Minnesota as “Kay Diamonds.” Kay admitted that from 1995 to last year he distributed more than 2,200 pounds of marijuana. The Star Tribune reports he described the drug to authorities as worth up to $5,000 per pound.

Kay also admitted to transporting stolen gems from 2001 through 2009, in league with an unnamed co-conspirator who worked for an Ohio-based diamond distributor.

Four other men, all from Rochester, have pleaded guilty to participating with Kay in dealing marijuana and hiding assets from the sales.

Information from: Star Tribune

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