San Antonio Business Owner Pleads Guilty to Fraud, Tax and Money Laundering Charges
Related Item:
Texas Business Owner Arrested, Indicted on Charges of Defrauding Ex-Im Bank and Private Lenders
SAN ANTONIO BUSINESS OWNER PLEADS GUILTY TO
FRAUD, TAX AND MONEY LAUNDERING CHARGES
United States Attorney Johnny Sutton, FBI Special Agent in Charge Ralph G. Diaz, IRS Special Agent in Charge Criminal Investigation Division Marcus Williams and
Immigration and Customs Enforcement Special Agent in Charge Jerry Robinette announced this afternoon that 40-year-old Andrew Maxwell Parker, owner of San Antonio Trade Group, Inc., has pled guilty to conspiracy, wire fraud, money laundering, tax evasion, and filing false tax returns.
By pleading guilty to the charges, Parker admitted that from February 2003 to November 2006, he schemed to defraud the Export-Import Bank of the United States (Ex-Im Bank) by stealing millions of dollars in loan proceeds from private U.S. lenders to Mexican business owners and causing multi-million dollar losses to Ex-Im Bank who guaranteed or insured those loans based on false applications and support documentation submitted by Parker. By pleading guilty, he also admitted defrauding lenders in transactions not insured or guaranteed by the Ex-Im Bank.
Additionally, by pleading guilty Parker acknowledged that he evaded paying taxes owed in calendar years 2003 and 2004 by disguising account transfers of $588,000 and $816,720.55, respectively. Parker allegedly claimed the money was used to purchase equipment being exported to Mexico when in fact, he used the $588,000 to purchase a house in Dallas, Texas, and the $816,720.55 to purchase two Ferrari automobiles and one Bentley automobile for himself.
He also funneled money to relatives, all from nominee accounts. Parker admitted that he willfully under-reported his actual income on his 2003 and 2004 tax returns.
In all, Parker pled guilty to eleven counts of the Indictment including Conspiracy, Wire Fraud, Money Laundering, Tax Evasion and Filing False Tax Returns. As part of the plea agreement, Parker forfeited his San Antonio residence at 407 E. Wildwood Dr. and his 2004 GMC Hummer H2. Under the plea agreement, Parker faces up to ten years of imprisonment and up to ten million dollars in restitution. In addition, Parker agreed to pay to the Internal Revenue Service his tax liability in the amount of $494,827.22 plus penalties and interest.
Assistant United States Attorneys Judith Patton and Jim Blankinship prosecuted this case on behalf of the government.