If you are wondering if he was suspended for the money laundering scheme, dating back to a 2006 real estate deal, the answer is no--he is suspended for undisclosed testosterone injections (six months; California State Athletic Commission). So the guy is a winner inside and outside of the cage.
The West Linn native, 33, is a UO grad and former Oregon politician. He ran to represent House District 37 (Tualatin, West Linn, and Lake Oswego) this past year but dropped out in June, citing a "legal issue" which turned out to be this crooked real estate deal. Julie Parrish (R) took his place and won.
Sonnen has pleaded guilty to money laundering in a deal with Lighthouse Financial out of Vancouver (two Lighthouse employees are also implicated). Reports indicate that Sonnen arranged for a $65,000 kickback to the buyer of a home in Portland. A false loan application was submitted to a subprime lender that has since gone under, with the money coming out of funds allocated for plumbing renovations.
Sonnen faces a maximum penalty of $500,000 and up to 20 years in prison. Sentencing takes place on March 28th. So it is safe to say he fucked up.