Home El Paso Press Releases 2010 Subject Arrested on Six Counts
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Subject Arrested on Six Counts

FBI El Paso February 19, 2010
  • Special Agent Michael Martinez (915) 832-5373

Oswaldo Kuchle Lopez, of Mexico, was indicted February 10, 2010, by a federal grand jury in El Paso, Texas, in connection with an alleged scheme to defraud the Export-Import Bank of the United States, announced David Cuthbertson, Special Agent in Charge of the El Paso Federal Bureau of Investigation.

The six-count indictment includes two counts of conspiracy, two counts of wire fraud, one count of bank fraud, and one count of false statements to obtain credit.

The Ex-Im Bank helps U.S. companies export products by guaranteeing or insuring loans made by private commercial lenders to foreign businesses who use the proceeds to purchase goods and services manufactured in the U.S. It is the official export credit agency of the U.S. Kuchle Lopez is accused of causing approximately $2.2 million in losses to the Ex-Im Bank. Kuchle Lopez is alleged to have utilized the loan proceeds for his personal use.

Specifically, Kuchle Lopez entered into a loan agreement in April 2004 with Toronto Dominion Bank (TDB) to allegedly purchase equipment including cement pumper trucks, cement mixer trucks, and dump trucks. This loan was insured by the Ex-Im bank. Kuchle Lopez ceased to make required loan payments to TDB which caused a default that resulted in the Ex-Im Bank to pay a claim on the loan. It is alleged that Kuchle Lopez secured the loan by submitting fraudulent reports, including invoices and bills of lading, reflecting that U.S. goods were purchased with the loan proceeds and exported into Mexico. The default affected TDB by placing it at risk of civil liability and financial loss.

Kuchle Lopez was detained by Immigration and Customs Enforcement agents Wednesday, February 17, 2010, about 9:45 p.m. at the Paso Del Norte Port of Entry and then arrested by the FBI. His initial appearance was yesterday before Magistrate Judge Norbert Garney. He will have a bond hearing on February 23, 2010.