September 26, 2012
Contact: Sammy Parks
Phone Number: (713) 693-3329
Laredo Bail Bonds Manager Indicted For Money Laundering
LAREDO, Texas - A federal grand jury has returned an 11-count indictment against Elizabeth Nevarez, 43, of Laredo, alleging wire fraud, falsification of documents and money laundering, Drug Enforcement (DEA) Special Agent in Charge Javier Peña and United States Attorney Kenneth Magidson announced today. She is also charged with engaging in a financial transaction of criminally derived property and removal of property in prevention of seizure.
The indictment alleges that from May 6, 2010 to Oct. 21, 2011, Nevarez engaged in a scheme of money laundering, wire fraud and the falsification of warranty deeds relating to the 2010 federal drug case United States v. Juan Ramon Ibarra Sr. It is alleged that after the May 6, 2010 arrest of Ibarra, Nevarez backdated the warranty deeds for three Laredo properties owned by the Ibarra family and put those properties into her own name to prevent the government from seizing these assets. Subsequently, Nevarez sold the three properties for $374,436.04 and conducted illicit wire transfers with the proceeds, some of which she used to purchase a property in San Antonio.
Nevarez faces up to 20 years in prison for each conviction of wire fraud, falsification of documents and money laundering. She also faces up to 10 years for engaging in a financial transaction of criminally derived property in excess of $10,000 and up to five for each count alleging removal of property in prevention of seizure, upon conviction. The United States is seeking forfeiture in the amount of $374,436.04 as well as the San Antonio property.
The case is the result of a two-year investigation led by the Drug Enforcement Administration with the assistance of Homeland Security Investigations. Assistant United States Attorneys James Hepburn and Elizabeth Rabe are prosecuting the case.
An indictment is a formal accusation of criminal conduct, not evidence.
A defendant is presumed innocent unless convicted through due process of law