wmlro.com: Two charged with conspiring to defraud bank and laundering the proceeds

On 11 August, 2010, a federal grand jury in the Western District of Texas, USA, returned an 8-count indictment against Leopoldo Parra, 48, of El Paso, Texas, owner of Poma Tools and Industrial Supplies, a Texas-based equipment dealer, and Eduardo Rodriguez-Davalos, 47, a Mexican citizen residing in El Paso. The indictment alleges that Parra, Rodriguez and others defrauded Ex-Im Bank of more than USD950,000 by engaging in fraudulent and fictitious loan transactions purportedly involving U.S. and Mexican companies.

The loan was issued by a U.S. bank located in Baltimore (the "Lender") and was guaranteed by Ex-Im Bank under Ex-Im Bank's medium-term Master Guarantee Agreement with the Lender. Parra, Rodriguez and their co-conspirators gave the Lender false documents stating that U.S. goods had been purchased by, and shipped to, Rodriguez in Mexico. By providing the false documents to the Lender, the defendants defrauded both the Lender and Ex-Im Bank.

On 13 August, 2010, Parra and Rodriquez appeared before a U.S. Magistrate Judge in El Paso and each was charged with one count of conspiracy to commit wire fraud, two counts of wire fraud, one count of conspiracy to commit money laundering and four counts of money laundering. They are each facing up to 20 years in prison and fines equal to twice their gain or USD500,000, whichever is greater.

The case is being prosecuted by the Department of Justice Criminal Division's Fraud Section and the U.S. Attorney's Office for the Western District of Texas, and was investigated by the Ex-Im OIG, the Internal Revenue Service, U.S. Immigration and Customs Enforcement, the FBI and the U.S. Postal Inspection Service.

Ex-Im Bank, an independent, self-sustaining federal-government agency, provides export financing that helps strengthen U.S. export competitiveness, and creates and maintains U.S. jobs. The Bank provides a variety of financing mechanisms, including export-credit guarantees and insurance to protect against nonpayment by foreign borrowers that purchase U.S. exports.

The Ex-Im Bank OIG receives and investigates complaints and information concerning violations of law, rules or regulations, fraud against Ex-Im Bank, mismanagement, waste of funds and abuse of authority connected with the Bank's programs and operations.

credit: oig