The U.S. Attorney’s Office has unsealed details of the money laundering indictment against Erick Agustin Silva-Santos, the former mayor of Matamoros, Mexico.
According to the indictment, Silva-Santos has been charged with money laundering, bank fraud, mail fraud, and wire fraud. A grand jury returned the indictment in July of this year, but the case was sealed until Monday.
American authorities have accused Silva-Santos of embezzling campaign contributions, stealing public funds, and accepting kickbacks—and then allegedly transferring those illegal funds into American bank accounts through various illegal deposit tactics.
Of special interest to Compliance professionals applying KYC solutions and CDD solutions, Silva-Santos allegedly made false statements to bank officials and provided falsified KYC identification documentation.
Silva-Santos has not yet been arrested, but there is a warrant for his arrest. A Brownsville, Texas, residence and a multimillion-dollar offshore annuity in Bermuda have been seized. If convicted of bank fraud, Silva-Santos could receive up to 30 years in prison. And the mail and wire fraud convictions can bring 20-year maximum sentences.