Durg bust at Funspot

Following an investigation by detectives of the Laconia Police Department and members of the New Hampshire Drug Task Force two men were arrested Monday while allegedly closing a drug deal at The Weirs.

Michael W. Moody, 38, of 6 Ponds View Lane, Laconia and William J. Ferrari, 35, of 21 Silkwood Avenue, Belmont were charged with possession of narcotics with intent to distribute, a class A felony. Moody was arraigned in Laconia District Court yesterday and released on $50,000 cash bail pending a probable cause hearing on April 1. Following his arrest, Ferrari was released on $10,000 personal recognizance bail and scheduled for arraignment on May 13.

According to the affidavit of Detective Scott Roy, Moody had been the target of an investigation for some time when, shortly after 7 p.m. on Monday police conducting surveillance spotted him in a vehicle in the parking lot at Funspot dealing with Ferrari. Roy reported that police saw about a half ounce of white powder, which they suspected as cocaine, and a large amount of cash that came to $4,000.

After Moody was arrested and booked, he waived his rights and agreed to speak with Roy without an attorney present. He said that he had been selling cocaine for about a month, but said that originally he intended to give the cocaine to Ferrari but changed his mind. Moody said that Ferrari gave him the money found in the vehicle to settle a debt, pay for cocaine.