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First arrest made involving fraudulent Ex-Im Bank loans; Did money lent to boost trade wind up in hands of drug cartels?

Somehow I'd missed that the first arrest has been made in Texas regarding fraudulent Ex-Im Bank loans. Byron Harris at WFAA TV in Dallas in December reported that the federal agency gave loans to figures associated with Mexican drug cartels that were never repaid, but until now no arrests had been made. Here's a report from The Financial:On May 1, 2008, the United States Attorney for the Western District of Texas (USAO) announced the arrest of Andrew M. Parker, owner of San Antonio Trade Group, Inc., on conspiracy, wire fraud, money laundering, false statements and tax charges.The Bank said an indictment returned this week by a federal grand jury sitting in San Antonio, Tex. alleges that from February 2003 to November 2006, Parker schemed to defraud the Export-Import Bank of the United States (Ex-Im Bank) by stealing millions of dollars in loan proceeds obtained by Mexican business owners from private U...continue to full post

Full post as published by Grits for Breakfast on May 31, 2008 (boomark / email).