Former World Champ Pleads Guilty to Money Laundering

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Former world boxing champion Kendall Holt has pleaded guilty to a money laundering charge in New Jersey.

Prosecutors say the charge against Holt, of Woodland Park, stemmed from drug deals made by his manager, Henry Cortes. In February, Cortes pleaded guilty to drug charges.

In court Friday, the 27-year-old boxer admitted that several times in 2007 and early 2008 he picked up bags of money and delivered them to Cortes. Holt told the judge he knew the money was from drug transactions.

Holt will be allowed to enter a pretrial intervention program. The charge could be dismissed if he completes it.

Holt won the WBO light welterweight title in July and defended it once before losing to WBC champ Timothy Bradley on April 4.