The Justice Department reports that Guillermo O. Mondino, 47, of Miami, pleaded guilty of leading a scheme to defraud the U.S. Export-Import Bank of more than $24 million. According to plea documents, Mondino was the owner of Texon Inc., an exporting company located in Miami. From April 2003 to May 2009, Mondino and others conspired to defraud the Ex-Im Bank by submitting false and fraudulent information to obtain approximately $24 million in loans and to misappropriate certain loan proceeds.
U.S. and Angolan trade and development officials met on June 28, 2010 to discuss means for strengthening bilateral trade and investment ties. The U.S. Trade Representative reports that the meeting was the first held under the United States-Angola Trade and Investment Framework Agreement (TIFA), which was signed in May 2009. The TIFA provides a high-level forum for advancing cooperation on the full spectrum of trade and investment issues between the United States and Angola.
The DOT's Bureau of Transportation Statistics reports that trade using surface transportation between the U.S. and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 32.4 percent higher in April 2010 than in April 2009, reaching $65.8 billion. This June 29, 2010 release also states that the 32.4 percent increase is the third consecutive monthly increase of at least 24 percent from the previous year.
The National Association of Manufacturers is urging the Export-Import Bank to reverse its recent decision to deny $600 million in loan guarantees for the sale of U.S.-manufacturing mining equipment to an Indian company, Reliance Power Ltd. Export-Import Bank officials say the bank has limited options because a Congressional mandate and past litigation require it to consider environmental factors.
Two Taiwanese nationals were sentenced to prison for conspiracy to ship internationally protected black coral into the U.S. in violation of federal wildlife statutes, the Department of Justice announced. Ivan Chu of Taipei, Taiwan, was sentenced to serve 30 months in prison and pay a $12,500 fine. Gloria Chu also of Taipei was sentenced to serve 20 months in prison and pay a $12,500 fine. These sentences, issued pursuant to the Endangered Species Act and Lacey Act, are the longest prison sentences for illegal trade in coral to date.
The Foreign Trade Zone Board is inviting public comment by July 12, 2010 on its staff's preliminary recommendation pertaining to the application by the Port of Moses Lake Public Corporation to establish a subzone at the REC Silicon facility in Moses Lake, Washington. Rebuttal comments are due by July 27, 2010.
The Bureau of Industry and Security has announced that Plane Cargo Inc. (PCI), a freight forwarder located in Houston, TX, has agreed to pay a civil penalty of $ 5,200 to settle one allegation that it violated the antiboycott provisions of the Export Administration Regulations.
The Justice Department reports that John Webster Warwick, 64, a Virginia Beach, Va. resident, was sentenced in U.S. District Court in Richmond, Va., to 37 months in prison for his role in a conspiracy to pay bribes to former Panamanian government officials to secure maritime contracts.The U.S. District Court Judge also sentenced Warwick to two years of supervised release following his prison term. In addition, Warwick forfeited $331,000 in proceeds of the crime.
The Justice Department has announced that Technip S.A., a global engineering, construction and services company based in Paris, has agreed to pay a $240 million criminal penalty to resolve charges related to the Foreign Corrupt Practices Act for its participation in a decade-long scheme to bribe Nigerian government officials to obtain engineering, procurement and construction (EPC) contracts. The EPC contracts to build liquefied natural gas (LNG) facilities on Bonny Island, Nigeria, were valued at more than $6 billion.
The Government Accountability Office has issued a report on nanotechnology which concludes that nanomaterials are already widely used in commerce, but the Environmental Protection Agency faces challenges in regulating their risks.