Mexican Farm Owner Sentenced For Scheme to Defraud the Export-Import Bank of the U.S.

WASHINGTON, April, 25, 2013 /PRNewswire-USNewswire/ -- The Office of Inspector General (OIG) for the Export-Import Bank of the United States (Ex-Im Bank) announced that a Mexican farm owner was sentenced to serve 60 months' probation for his role in a scheme to defraud Ex-Im Bank of approximately $825,563

Jaime Galvan-Guerrero, 40, was sentenced by Judge Kathleen Cardone in U.S. District Court in El Paso, TX.  In addition to his term of probation, Galvan was ordered to pay $825,563 in forfeiture and a $2,000 fine.  Galvan, who is a citizen of Mexico, plead guilty on August 3, 2011, to one count of conspiracy to commit wire fraud and one count of wire fraud in connection with a scheme to defraud Ex-Im Bank of approximately $825,000.

According to court documents, Galvan was the purported owner of a farm in Delicias, Chihuahua, Mexico.  Galvan admitted that he and co-conspirators created false invoices, shipping documents, financial statements, and other documents that were submitted to a Baltimore, MD finance company.  The false documents, which falsely purported to purchase construction equipment, were ultimately submitted to Ex-Im Bank to guarantee the financial transaction.  Galvan admitted that, in fact, none of the equipment was purchased or exported to Galvan in Mexico.  Instead, Galvan and his co-conspirators split the Ex-Im Bank insured loan proceeds and ultimately Galvan defaulted on his loan in late 2007, causing a loss to Ex-Im Bank and the U.S. government of $725,522.  Between 2007 and 2010, Galvan paid back most of his debt to the government.  After his arrest in 2010, Galvan paid off the remaining balance of approximately $150,000 to Ex-Im Bank. 

The U.S. Department of Justice Criminal Division Fraud Section and the U.S. Attorney's Office, Western District of Texas, El Paso Division prosecuted the case.  The case was investigated by Ex-Im Bank OIG, Homeland Security Investigations in El Paso; Internal Revenue Service-Criminal Investigation in Washington, D.C., and the U.S. Postal Inspection Service in Washington, D.C.

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing.  Ex-Im Bank provides a variety of financing mechanisms to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank OIG is an independent office within Ex-Im Bank.  The OIG receives and investigates complaints and information concerning violations of law, rules or regulations, fraud against Ex-Im Bank, mismanagement, waste of funds, and abuse of authority connected with Ex-Im Bank's programs and operations.  Additional information about the OIG can be found at  Complaints and reports of waste, fraud, and abuse related to Ex-Im Bank programs and operations can be reported to the OIG hotline at 888-OIG-EXIM (888-644-3946) or via email at



SOURCE Office of Inspector General for the Export-Import Bank of the United States


More by this Source

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.


PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.