Consequences
Black was sentenced to 82 months in prison on the money laundering charges in Michigan. In Florida, he fought the SEC charges but was found guilty of fraud, and obstruction of justice. Four years later, while in jail, Black represented himself in an appeal of a civil suit the SEC had filed against him and won. The court found there was no evidence that Black knew anything about the Cash 4 Titles scheme.
In June 2001, the television program “America’s Most Wanted” aired a segment on Dean Parker, a fugitive in the Detroit cocaine case. Black agreed to be interviewed for the program in prison, talking about his relationship with Parker and how he had allowed Parker to use Black's leased jet to escape to Jamaica. Parker committed suicide a few months later as police were about to arrest him in East St. Louis, Illinois.
In October 2004, while still in prison, Black sued Vince Carter for $14 million in unpaid agent fees. Black won and to avoid a protracted appeal, settled for $10 million with the Carter family.
Black was released from federal prison in December 2007, and from a halfway house in May 2008.
Read more about this topic: William "Tank" Black
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