Financial Consultant Gets 3 Years Over $7M Ex-Im Bank Fraud

Law360, Washington (October 18, 2013, 5:57 PM EDT) -- A Texas federal judge on Thursday sentenced a Mexican financial consultant to 36 months in prison for his role in a plan to defraud the Export-Import Bank of the United States of nearly $7.2 million.

In addition to his three-year sentence for wire and bank fraud, Manuel Ernesto Ortiz-Barraza will pay $7.1 million in restitution and another $8.5 million in criminal forfeiture for his portion of the scheme, where he and others alleged they were importing medical and construction equipment from the U.S. to Mexico and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.