Ex-Im Loan Plot Gets Pecan Co. Owner 4 Years

Law360, New York (November 8, 2012, 9:00 PM EST) -- A federal judge in Texas slapped a Mexican pecan brokerage company owner with a four-year prison term Wednesday, following his guilty plea last year to money-laundering conspiracy and fraud charges connected to a alleged scheme to bilk the U.S. Export-Import Bank out of around $400,000.

U.S. District Judge Kathleen Cardone also ordered Leopoldo Valencia-Urrea to cough up $58,000 in restitution and $399,075 in forfeiture. Valencia-Urrea — a U.S. citizen who owned a pecan brokering business in Ciudad Juarez, Mexico, and lived in El Paso, Texas —...
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