El Paso Lawyer Gets 10 Years in Prison and Loses Home for Money Laundering Conviction
A federal judge has sentenced an El Paso attorney to 10 years in prison in connection with a money laundering scheme in which he diverted millions of funds meant for a Mexican power plant and used the money to buy homes for his own personal use.
October 02, 2017 at 02:00 PM
2 minute read
A federal judge has sentenced an El Paso attorney to 10 years in prison in connection with a money laundering scheme in which he diverted millions of funds meant for a Mexican power plant and used the money to buy homes for his own personal use.
Last year, a federal jury found Marco Antonio Delgado guilty on several counts of wire fraud and money laundering. According to his indictment, Delgado acted as the legal representative of FGG Enterprises in 2010 when the company signed a $121 million contract with a Mexican-owned utility company for the installation of new power turbines for a power plant located in Agua Prieta, Mexico.
At trial, prosecutors alleged that without FGG's consent, Delgado diverted $32 million in payments from the Mexican utility company for the power turbines and deposited the funds in a bank account in the Turks and Caicos Islands. He later used the money to buy a residence in El Paso and a condominium in Taos, New Mexico.
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