• Ordered To Pay EXIM US$3 Million In Restitution
By Emmanuel Oluebube, Correspondent Uk
Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed weekend issued the following statement after the EXIM Office of the Inspector General (OIG) announced that a Los Angeles-area business owner pledged guilty to making false statements to a financial institution in violation of 18 U.S.C. §1014.
The individual—who submitted and caused others to submit false documents to a financial institution between December 2014 and July 2015 for a loan guaranteed by EXIM—was sentenced to 12 months in prison to be followed by 36 months of supervised release and ordered to pay US$3 million in restitution to EXIM. The case was investigated by EXIM OIG in Washington, D.C. and prosecuted by the Major Frauds Section of the US Attorney’s Office for the Central District of California.
“From the moment I became Chairman, EXIM has prioritized cracking down on bad actors and protecting the American taxpayer. To ensure our agency is well-run as we focus on our mission of supporting American jobs by facilitating US exports, I have underscored the important and independent role of the EXIM Office of Inspector General,” said Chairman Reed. “On behalf of my 515 EXIM colleagues, my deepest thanks go to Acting IG Jennifer Fain, Assistant IG for Investigations Patrick McCurry, and the entire OIG team, as well as to the US Department of Justice, for your hard work. We have no tolerance for waste, fraud, and abuse and those who try and undermine the integrity of the US government systems we have in place will be held accountable, as we have seen with this case. I urge the public to immediately contact the EXIM OIG hotline if there is any concern.”
