Philly Record Label Owner, Rapper Convicted Of Drug Charges, Facing Life
Published: Wednesday - March 5, 2008
Words by Allen Starbury
Alton "Ace Capone" Coles (Photo: The Philadelphia Inquirer)
Philadelphia rapper and label owner, Alton "Ace Capone" Coles, was found guilty on Tuesday (March 4) of using his Take Down Records label as a front for his cocaine sales organization that profited an estimated $25 million.
According to the Philadelphia Inquirer, a federal jury deliberated more than seven days following 34-year-old Coles' six-week trial, ultimately finding him guilty of conspiracy to distribute cocaine, heading a continuing criminal enterprise that engaged in drug trafficking, conspiracy, wire fraud, money laundering and weapons offenses.
Coles, who went by the moniker Ace Capone in the hip-hop world, allegedly ran a violent drug empire that moved cocaine through the Philadelphia region from 1997 to 2005. He is said to have laundered the illicit cash through his record label, Take Down Records, then used the cash to buy lavish homes and cars including a $466,000 suburban home, and a $220,000 Bentley, among other things.
Coles, who remained calm throughout the trial, took the stand at one point, where he flat out denied any involvement in the drug trade. While he did admit that he had "hustled" in the past, according to the paper, he said his income was legitimate by the time federal agents came after him.
He claimed that most of his money came from local concerts and weekly parties that he promoted, and from album and video sales.
Now, after being found guilty, he faces a possible life sentence.
His accomplice, Timothy "Tim Gotti" Baukman, who was described by prosecutors as Coles' chief lieutenant in the drug network, was found guilty of the same charges and also faces a life sentence.
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