Four Individuals Indicted for Banking Sector Fraud in Puerto Rico
Investigation Reveals Widespread Bribery and Fraud Scheme
A federal grand jury has indicted four individuals on charges related to bribery and fraud in Puerto Rico’s banking sector, following an investigation by the Federal Bureau of Investigation (FBI) and the Department of Homeland Security (HSI), with assistance from various local authorities.
Scheme Details
According to court documents, defendant Ariel Pintado-Montalvo made repeated bribe payments to employees of the Puerto Rico Treasury Department in exchange for approval of fraudulent vehicle excise-tax declarations. The bribes were paid in cash and through ATH Móvil, a mobile payment service.
The scheme allegedly involved Hacienda’s digital platform, known as Sistema Unificado de Rentas Internas (SURI), which is used to administer and collect vehicle excise-taxes on imported vehicles. Employees involved would approve fraudulent declarations that resulted in a decrease in excise tax paid by Pintado-Montalvo and a loss of revenue for the government.
Charges
The indictment charges the four individuals with:
- Conspiracy to commit bribery concerning program receiving federal funds
- Paying and receiving bribes
- Honest services wire fraud
Reactions from Law Enforcement
U.S. Attorney W. Stephen Muldrow emphasized that the prosecution serves as a warning to other public employees involved in similar schemes, stating, “Corruption is a complex problem with no simple solution… But attacking this threat at all levels and having a zero-tolerance posture is necessary in order to have a real impact.”
FBI Special Agent in Charge Joseph González added, “The FBI has been at the frontlines in the fight against corruption in Puerto Rico, and I think the message is clear - if you are a public official using your public office for personal gain, we will come after you and you will face justice.”
HSI Special Agent in Charge Rebecca González- Ramos stated, “These employees defrauded the trust of the people of Puerto Rico. HSI will continue to investigate financial crimes that negatively impact the infrastructure of the United States and its territories.”
Case Ongoing
The defendants are presumed innocent until proven guilty. Assistant U.S. Attorney Victor O. Acevedo-Hernández is prosecuting the case.
Continued Efforts Against Corruption
The FBI, HSI, and other law enforcement agencies have vowed to continue their efforts to combat corruption in Puerto Rico’s banking sector and protect the island’s economy from fraud and abuse.