I highly doubt this to be true...Bonanno was almost 80's years old in the early 80's.

If Bonanno had any aspirations of creating his own family in Arizona, HE NEVER would have released his book. The book that almost perfectly coincided with the killing of his former underboss, Galante. The book seemed like his final curtain call and exit from the life.

I do however believe that Bonanno had his hands in dirty business, almost until he died.
We only know about the car lot incident. Now if someone was willing to offer someone above and beyond what a business is worth, that type of move reeks of money laundering.
A large car lot seems like a great business to have large amounts of money flowing in and out of it.

The only 2 people, besides Bonanno himself, that could tell us more info are his 2 sons, which are both dead.

I also must say that I never read Bill Bonanno's book. Maybe he talked about the Arizona years in there but I also doubt that. He would be ratted himself out as his father's accomplice. I think he talked mostly about the New York timeline.

Maybe someone else can add something here.