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AUSTIN -- Of all the bars and nightclubs in downtown Austin, those owned by Yassine Enterprises are among the most popular - and most successful.

But the future of Pure, Malaia, Qua, Still, Treasure Island and Roial is now unclear.

Federal agents executed a search warrant on the Treasure Island bar near East 6th Street and Neches Thursday morning.

Dressed in SWAT gear and armed with a U-Haul truck full of cardboard boxes, FBI agents from out of town showed up to collect evidence. They were looking for for alcohol bottles, tax returns, receipts, money and other evidence.

Employees showed up at work, but were turned away at the door.

Sixth street has changed a whole lot. It's getting worse, and worse, and worse, said club goer Danny Baylor Lord.

The IRS, TABC, FBI, and Texas Comptroller's Office are all involved in the investigation that centers around cocaine and cash.

It's procedure that we don't release very many details at this stage of an investigation, IRS special agent Mike Lemoine said.

What is known are the businesses under investigation. They are all owned by Mike Yassine of Yassine Enterprises. Founded in 1996, Yassine Enterprises is headquartered at 213 West Fourth St.

Venues managed by Yassine Enterprises according to its website are: Hyde, Kiss and Fly, Roial, Pure, Malaia, Spill, Fuel, Treasure Island, and Stack Burger Bar.

Federal agents say the businesses are being investigated for money laundering, distribution, and conspiracy.

An IRSspokespersonsaid that Thursday afternoon 12 people were indicted in a federal court. According to the FBI,ten were arrested. Those ten are follows:

Hussein Ali Yassine, 40, of Austin; Hadi Ali Yassine, 35, of Austin; Mohammed Ali Yassine, 38, of Austin; Marisse Marthe Ruales, 33; Nizar Hakiki, 32, of Austin; Karim Faiq, 29, of Manor, Texas; Amar Thabet Araf, 29, of Austin; Sami Derder, 38, of Pflugerville, Texas; Edgar Orsini, 40, of Cedar Creek, Texas; and Alejandro Melendrez, 42, of Austin.

The 10 arrested defendants are in federal custody pending detention hearings scheduled for Tuesday at 10:00 a.m. in Austin.

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