Navigation Links
Distributed by the Export-Import Bank of the United States On Behalf of the Independent Office of Inspector General
Date:12/10/2010

WASHINGTON, Dec. 10, 2010 /PRNewswire-USNewswire/ --  The Office of Inspector General for the Export-Import Bank of the United States (Ex-Im Bank OIG) announced today that Miami resident Yader A. Padilla, 59, was sentenced to 24 months in prison on December 3, 2010, by the Honorable U.S. District Judge Paul C. Huck in U.S. District Court for the Southern District of Florida.  He was sentenced for his role in defrauding the Ex-Im Bank.  Padilla had previously pled guilty on July 29, 2010 to a criminal information that charged him with conspiracy to commit wire fraud in a scheme to defraud the Ex-Im Bank of approximately $310,639.   

According to court documents and testimony at the plea hearing, from approximately May 2009 through January 2010, Padilla falsely represented his Miami, Florida pharmacy as an exporter of U.S. manufactured pharmaceutical products.  Instead of exporting the purported U.S. manufactured pharmaceutical products to South American buyers, Padilla and his co-conspirators misappropriated the money and utilized it for their personal gain.  Padilla's loans were obtained from a Florida bank and insured by Ex-Im Bank.  Padilla admitted that he and co-conspirators prepared and submitted to the Florida bank and the Ex-Im Bank false loan documents, including commercial invoices, packing lists and bills of lading which falsely reflected that Padilla purchased and shipped approximately $310,639 worth of pharmaceutical products to South American customers. 

Padilla was arrested in Miami on May 5, 2010, by special agents of the Ex-Im Bank OIG pursuant to the criminal investigation.  Padilla's arrest, conviction and sentencing are part of a larger, ongoing investigation by the Ex-Im OIG into allegations of fraud concerning Padilla and other co-conspirators.   In addition to his prison term, Padilla was ordered to serve 36 months supervised release after his confinement.  Padilla was also ordered to serve 1,400 hours of community service and pay $215,639 in restitution to the U.S. government.

Ex-Im Bank, an independent federal agency, is the official export credit agency of the United States and issues loan insurance to U.S. exporters that covers extensions of credit to foreign buyers of U.S. goods.  The Ex-Im Bank issues a loan insurance policy, which provides that if the foreign borrower defaults on its loan repayments to the lending bank, the Ex-Im Bank will reimburse the amount of the outstanding loan principal and interest to the lending bank.

The scheme was investigated by special agents of the Ex-Im Bank OIG after bank staff referred information concerning the suspicious loan defaults.  This case was prosecuted by the Department of Justice Criminal Division's Fraud Section.


'/>"/>
SOURCE Export-Import Bank of the United States
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Osteotechs MagniFuse(TM) Distributed to 68 U.S. Hospitals as Product Revenue Surpasses $1 Million
2. OTCBB-VHGI Announces LOI to Sell Certain Assets for $10 Million Cash/Stock to WNDM; With Stock Dividend to be Distributed to Shareholders in 2010
3. Colombian National Pleads Guilty to Role in Defrauding the Export-Import Bank of the United States of More Than $1 Million
4. United Seating & Mobility Reaches Agreement With Alliance Homecare Equipment to Acquire its Complex Mobility Business
5. United Seating & Mobility and Affiliates Reach Agreement with RehabTECH Inc. to Acquire 3 Branch Locations
6. BMEYE Receives FDA Clearance to Launch ccNexfin, the First Totally Noninvasive Cardiovascular Monitor With BP, CO, and Masimo Rainbow SET(R) Technology in the United States
7. United American Healthcare Corporation Announces Senior Management Appointments and Relocation to Chicago
8. Lilly Surpasses United Way 2010 Campaign Goal
9. ChemoCentryx Reports One-Year Results from PROTECT-1 Study Demonstrating Traficet-ENs Effectiveness in Treating Patients with Crohns Disease at the United European Gastroenterology Federation (UEGW) Meeting
10. United American Healthcare Corporation Names John M. Fife as Chairman of the Board
11. Hospira Launches Piperacillin and Tazobactam for Injection in the United States
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... 20, 2017  Cogentix Medical, Inc. (NASDAQ: CGNT), ... the Urology, Uro/Gyn and Gynecology markets with innovative ... has joined the Company as Senior Vice President, ... position, Mr. Keswani will report directly to ... "Our organization is delighted that Ash has joined ...
(Date:4/20/2017)... , April 20, 2017  RXi Pharmaceuticals Corporation ... therapeutics that address significant unmet medical needs, today ... the Company,s consumer product development program, based on ... Society for Investigative Dermatology (SID) 76 th ... and promote the sciences relevant to skin health ...
(Date:4/20/2017)... , April 20, 2017  AbbVie (NYSE: ... 99 percent (n=145/146) of chronic hepatitis C virus ... 5 or 6 and compensated cirrhosis (Child-Pugh A) ... (SVR 12 ) with its investigational, pan-genotypic regimen ... rates were seen following 12 weeks of G/P ...
Breaking Medicine Technology:
(Date:4/29/2017)... ... April 29, 2017 , ... TransDark is a set ... one video to the next without having to set a single keyframe in ... to enhance your video production. , TransDark features dynamic transitions that momentarily splits the ...
(Date:4/28/2017)... (PRWEB) , ... April 28, 2017 , ... An April 24th article on ... stunning 180 pounds with the help of a weight loss surgery. The woman, declaring “I ... skin that have been left following her dramatic weight loss. Dr. Feiz & Associates notes ...
(Date:4/28/2017)... , ... April 28, 2017 , ... Beginning in 2017, ... their formulas. This begins with the popular ClearLungs Extra Strength formula. To ensure that ... the formula in the following ways:, , Removal of the ...
(Date:4/28/2017)... ... April 28, 2017 , ... Ushio America ... lamps offer an instant energy-saving solution for F32T8 fluorescent lamps on most instant-start ... ballasts. These 50,000 hour rated lamps utilize the existing electronic ballast, saving labor ...
(Date:4/28/2017)... ... April 28, 2017 , ... From ... College of Urgent Care Medicine will host industry leaders for the annual spring ... help those in the industry adapt to the issues currently affecting urgent care ...
Breaking Medicine News(10 mins):