Posted on 05/22/2012 3:26:25 PM PDT by SwinneySwitch
BROWNSVILLE — A Mexican businessman is the target of a federal probe alleging widespread money laundering that involves the Gulf Cartel and a former Tamaulipas governor who owns a condiminium on South Padre Island.
Fernando Alejandro Cano Martinez, 55, of Ciudad Victoria, Tamps., is charged with conspiracy to launder monetary instruments since on or about Jan. 1, 1998.
The indictment alleges Cano and others conspired to use an array of corporate entities they formed in Texas to launder portions of bribes paid by the Gulf Cartel to high level elected officials and candidates for such elected office in Tamaulipas. Millions of dollars of assets, primarily Texas real estate, were allegedly acquired in the scheme.
Cano is also accused of conspiracy to commit bank fraud. He and others also engaged in a separate conspiracy in the acquisition of loans from financial institutions by submitting false financial information to the banks in order to obtain the loans, according to the indictment.
The U.S. Attorney's Office for the Southern and Western districts of Texas announced the indictment late Tuesday afternoon.
MOVE TO SEIZE
A civil complaint filed Tuesday afternoon in federal court in Corpus Christi targets a condiminium on South Padre Island owned by former Tamaulipas governor Tomas yarrington Ruvalcaba.
Beyond serving as governor, Yarrington was a the former Matamoros mayor and presidential candidate who sought nomination by the Institutional Revolutionary Party (PRI) in 2005.
The complaint accuses Yarrington of using ill-gotten money to buy a condo on South Padre Island, using a third party to buy the $450,000 property and hold it in that person's name.
And in San Antonio, the U.S. Attorney is pursuing about $6.6 million for a property allegedly obtained with illicit funds by Yarrington, Cano and others.
No criminal charges against Yarrington were filed Tuesday.
Cano faces up to 20 years in prison if convicted of money laundering and another five years if convicted of conspiracy to commit bank fraud.
Prosecutors also are seeking $20 million on each count and forfeiture of assets, which includ an airplane and several bank accounts that belong to Cano.
“The Monitor” is for sale, maybe the Cartels will buy it?
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