Virginia Man Pleads Guilty to Committing Wire Fraud and Making False Statements to a Federally Insured Bank
FOR IMMEDIATE RELEASE January 20, 2021
Office of Communications (202-565-3207)
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today commended EXIM’s Office of the Inspector General and the U.S. Department of Justice following an announcement that a Virginia man pled guilty to committing wire fraud and making false statements to a federally insured bank, following an investigation involving EXIM.
According to the Department of Justice, the man repeatedly falsified accounts receivable and financial statements related to a loan from First National Bank of Pennsylvania that was backed by an EXIM guarantee. The case was investigated by the EXIM Office of the Inspector General and prosecuted by the U.S. Attorney for the Eastern District of Virginia. Additional details are included in the U.S. Department of Justice press release.
“I, and all of us at EXIM, prioritize cracking down on bad actors and protecting the American taxpayer. In order to best meet our mission of supporting American jobs by facilitating U.S. exports, I have underscored the important and independent role of the EXIM Office of the Inspector General,” said Chairman Reed. “On my last day as President and Chairman at EXIM, I give my deepest thanks to the entire Office of the Inspector General team—including Acting Inspector General Jennifer Fain and Assistant Inspector General for Investigations Patrick McCurry—as well as the U.S. Department of Justice, for their diligent work both in this matter and with the overall mission. I know they will continue to act as an agent for positive change, and I thank them for keeping me and the Congress fully informed about problems, deficiencies, along with positive developments, during my tenure. EXIM has no tolerance for waste, fraud, abuse, or obstruction of justice. I urge the public to immediately contact the EXIM Office of the Inspector General hotline if there is any concern.”
Complaints and reports of waste, fraud, and abuse related to EXIM programs and operations can be reported to the EXIM OIG hotline at 888-OIG-EXIM (888-644-3946) or via email at IGhotline@exim.gov. Click here for more details.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency. EXIM is an independent federal agency that advances American competitiveness and has the mission of supporting American jobs by facilitating U.S. exports. To assist American businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. EXIM contributes to U.S. economic growth and keeping America strong by helping create and sustain tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.