BNP Paribas Defrauded Federal Credit Program: US

Law360, New York (October 18, 2011, 10:24 PM EDT) -- The U.S. sued BNP Paribas SA and others in Texas federal court Tuesday, claiming the bank set up a scheme in which an executive allegedly took kickbacks for defrauding a U.S. Department of Agriculture credit program by fraudulently obtaining government financing for international shipments.

The government claims BNP Paribas knowingly set up the scheme to defraud the USDA's Supplier Credit Guarantee Program. BNP Paribas North America, BNP Paribas Houston Agency, and former BNP Paribas Vice President Jovenal M. Cruz are also named as defendants.

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Case Information

Case Title

USA VS. BNP PARIBAS ET AL


Case Number

4:11-cv-03718

Court

Texas Southern

Nature of Suit

370(Fraud or Truth-In-Lending)

Judge

Judge Sim Lake

Date Filed

October 18, 2011

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Government Agencies

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