PHOENIX (AP) - The owners of a luxury car dealership and jewelry store are charged with money laundering after authorities say the three men agreed to accept thousands of dollars from undercover agents posing as drug dealers for vehicles and jewelry while offering to hide the transactions from the federal government.

Hamid and Saeid Salari, owners of Luxor Auto Group in Scottsdale, are charged with three counts, including money laundering and conspiracy. Farah Isaac, owner of Isaac Jewelers, also in Scottsdale, faces the same charges. They were arrested Wednesday.

Attorneys for the three men did not return telephone messages on Friday. All three suspects have been released on their own recognizance pending future hearings after initial appearances this week in federal court in Phoenix.