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PEPwatch: U.S. government seizes offshore account it says belongs to corrupt former Mexican official

Feb 07 2013 Brett Wolf, Compliance Complete

The U.S. government has seized a bank account in Bermuda that allegedly holds more than $2.2 million in corruption funds belonging to a former Mexican tax official, federal prosecutors in Texas announced. The account, a Sun Secured Advantage investment account at N.T. Butterfield and Son Limited, is controlled by Hector Javier Villareal Hernandez, a former tax official in the Mexican State of Coahuila, who is a fugitive wanted by Mexican authorities, the U.S. Justice Department said. Villareal, who made roughly $8,000 a month for three years, resigned in late 2011 and soon thereafter was arrested and released on bond by Mexican authorities for allegedly forging state documents to obtain more than $246 million in fraudulent loans from Mexican banks, the civil complaint filed by Justice Department lawyers stated. With help from his wife, Maria Teresita Botello Gamez, and other relatives willing to act as nominee accountholders, Villareal funneled $35 million in ill-gotten gains into

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