Texas grand jury indicts former CMU trustee Delgado for wire fraud, money laundering
By Debra Erdley
Published: 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.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Kovacevic: Panic over Pirates? In April? Why?
- Patience pays off as starting pitcher Volquez gets 1st win for Pirates
- Plum native Umberger inching closer to making return for Blue Jackets
- Undersized rookie Gibbons is blur on ice for Penguins
- Panthers pulling weight for new strength coach
- 4 dead in ‘horrific’ Armstrong County crash
- Pens insider: Penalty killing a concern in Stanley Cup playoffs
- Work on tournament-class dek hockey rink in Bloomfield to begin
- Pirates should exploit free-swinging Brewers
- Body found on train tracks in West End
- PSU has hand in discovery of most Earth-like planet yet