Rap promoter convicted in drug trial

March 4, 2008 1:47:15 PM PST
A rap promoter is convicted of using a record company he founded as a front for a multimillion drug empire.

He is 34-year-old Alton Coles, also known as "Ace Capone." He was found guilty of conspiracy to distribute cocaine and with heading a continuing criminal enterprise.

The federal jury deliberated more than seven days following Coles' six-week trial.

Prosecutors said Coles ran a violent drug empire that moved $25 million of powder and crack cocaine through the Philadelphia region from 1997 to 2005. They said he laundered the illicit cash through his record label, Take Down Records, then used it to buy a $466,000 suburban home, a $220,000 Bentley and other riches.

He faces a possible life sentence.