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...
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