Texan Gets 6 Years For $17M Export-Import Bank Fraud

Law360, New York (May 27, 2011, 7:39 PM EDT) -- A Washington federal judge sentenced a Texas man on Thursday to about six years in prison and ordered him to forfeit $17.9 million he allegedly made from defrauding the Export-Import Bank of the United States through his company Alamo Freight Forwarding.

U.S. District Judge Reginald Walton ordered 70 months of prison time and also three years of probation for Jose Velasco, who pled guilty on Sept. 24 to a criminal information charging him with one count of wire fraud and one count of conspiracy to defraud...
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