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Texas grand jury indicts former CMU trustee Delgado for wire fraud, money laundering

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Thursday, Feb. 28, 2013, 2:21 p.m.
 

Jailed former Carnegie Mellon University trustee Marco Delgado faces a new set of charges — wire fraud and money laundering in connection with a scheme to defraud a Mexican utility of millions of dollars.

A federal grand jury in El Paso on Wednesday charged Delgado, 46, in connection with a scheme referenced in a petition filed by federal prosecutors seeking to seize his home, furnishings and bank account.

Delgado, an El Paso lawyer who also used the name Marco Delgado Licon, has been in federal custody awaiting trial since his Nov. 2 arrest in connection with laundering $600 million for a Mexican drug cartel.

The new indictment says the latest charges date to a 2010 deal Delgado brokered for a Nevada firm to provide turbogenerators to a Mexican state-owned utility. Investigators said Delgado directed a Mexican bank to wire $32 million in proceeds to his bank account in the Turks and Caicos Islands rather than the Nevada firm, FGG.

Federal prosecutors allege Delgado tapped the account to buy a home in El Paso, a condominium in Taos, N.M., two vehicles and hundreds of thousands of dollars in furnishings.

Authorities claim Delgado transferred about $1.15 million from the account to accounts in Texas and Mexico and made a $200,000 contribution to Carnegie Mellon University to ”conceal or disguise the nature, location source ownership or the control of the proceeds from his scheme.”

Delgado's lawyer Ray Velarde did not return a call for comment.

Delgado graduated from CMU in 1990 with a master's degree, donated $250,000 to the school in 2003 and was a member of the board of trustees until last year.

CMU officials have said they are cooperating with authorities and declined further comment.

Debra Erdley is a staff writer for Trib Total Media.

 

 

 
 


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