2 Arizonans convicted in tax fraud case

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PHOENIX (AP) -- Two Arizona men have been convicted of conspiracy to commit money laundering and conspiracy to defraud the Internal Revenue Service. The U.S. Department of Justice said Tuesday that Gino Carlucci and Wayne Mounts devised several false schemes.

A federal jury also convicted Carlucci of filing a false income tax return in 2004.

The jury returned a not guilty verdict for Carlucci on a separate witness tampering charge.

Prosecutors said Carlucci and Mounts' false schemes included a purported investment in a fraudulent casino project in Antigua.

Carlucci and Mounts each face a maximum sentence of 20 years in prison for money laundering and a maximum sentence of five years in prison for conspiracy to defraud the IRS. Carlucci also faces an additional three years on the false return conviction.