Submission of False Export Documents Lands Florida Resident in Jail
WASHINGTON, Jan. 18, 2012 /PRNewswire-USNewswire/ -- The Office of Inspector General (OIG) for the Export-Import Bank of the United States (Ex-Im Bank) announced today that Miami resident, Mario Francisco Mimbella, was sentenced to six months in prison for his role in a scheme to defraud the Ex-Im Bank of $496,869. The sentencing supports ongoing investigative efforts by the Ex-Im Bank OIG to investigate fraudulent loans and exports to borrowers in South America and elsewhere.
Mimbella, 61, was sentenced by Judge Amy B. Jackson in U.S. District Court, District of Columbia, to an additional 36 months of supervised release and was ordered to pay $496,869 in restitution and $759,547.49 in forfeiture. Mimbella pleaded guilty on July 12, 2011, to a criminal information that charged him with one count of making a false statement in connection with a scheme to defraud Ex-Im Bank.
According to court documents, Mimbella was the owner of Mario's Air, Inc., a Miami-based air cargo provider serving light cargo transportation needs primarily between Miami, Florida, and the Bahamas. Around July 2008, Mario's Air was purported to be an exporter of garbage collection trucks involving $2.3 million worth of loans to Peruvian borrowers from a lending bank in the United States. Ex-Im Bank guaranteed those loans. According to court records, Mimbella submitted false bills of lading and other export records showing that loan proceeds were used to purchase and ship U.S.-manufactured garbage trucks. Instead, in one of the loans, Mimbella wired loan proceeds directly to a Peruvian borrower who used the money to purchase garbage trucks made in Germany rather than in the United States. Subsequently, one of the fraudulent loans defaulted and Ex-Im Bank paid a claim in the amount of $502,169 to the U.S. lending bank in accordance with the terms of the guarantee.
Ex-Im Bank is an independent executive agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. Ex-Im Bank provides a variety of financing mechanisms, including working capital guarantees, export credit insurance and financing 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 http://www.exim.gov/oig. 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 IGhotline@eixm.gov.
SOURCE Office of Inspector General for the Export-Import Bank of the United States