Home Anchorage Press Releases 2011 Cash Vault Services Manager Indicted by Federal Grand Jury for Stealing $4.3 Million in Cash

Cash Vault Services Manager Indicted by Federal Grand Jury for Stealing $4.3 Million in Cash

U.S. Attorney’s Office August 17, 2011
  • District of Alaska (907) 271-5071

ANCHORAGE—Acting United States Attorney Kevin Feldis announced that an Anchorage man was indicted by a federal grand jury in Anchorage for stealing approximately $4.3 million in cash belonging to Key Bank.

The one-count indictment names Gerardo Adan Cazarez Valenzuela, also known as “Gary Cazarez,” 26, a resident of Anchorage, as the sole defendant.

The indictment alleges that Valenzuela, a cash vault services manager for Key Bank, stole the money on July 29, 2011.

Valenzuela was arrested by Mexican authorities on August 2, 2011, in Sonoita, Sonora, Mexico, when a random search of his luggage at a checkpoint revealed that his bags contained nearly $3.8 million in cash, firearms, and ammunition. Valenzuela remains in custody in Mexico, and procedures will be initiated to have him returned to Alaska to face the criminal charges.

Assistant United States Attorneys Joseph Bottini and Aunnie Steward, who presented the case to the grand jury, indicated that the law provides for a sentence of up to 30 years, as well as fines totaling up to $1 million and up to five years of supervised release following service of a prison sentence. Under the federal sentencing statutes, the actual sentence imposed will be based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.

The Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.

An indictment is only a charge and is not evidence of guilt. A defendant is presumed innocent and is entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.