A federal judge has sentenced an El Paso attorney to 10 years in prison in connection with a money laundering scheme in which he diverted millions of funds meant for a Mexican power plant and used the money to buy homes for his own personal use.
Last year, a federal jury found Marco Antonio Delgado guilty on several counts of wire fraud and money laundering. According to his indictment, Delgado acted as the legal representative of FGG Enterprises in 2010 when the company signed a $121 million contract with a Mexican-owned utility company for the installation of new power turbines for a power plant located in Agua Prieta, Mexico.
At trial, prosecutors alleged that without FGG’s consent, Delgado diverted $32 million in payments from the Mexican utility company for the power turbines and deposited the funds in a bank account in the Turks and Caicos Islands. He later used the money to buy a residence in El Paso and a condominium in Taos, New Mexico.
U.S. District Judge David Guaderrama ordered Sept. 28 that half of Delgado’s 10-year prison sentence run consecutive to a 16-year sentence that Delgado is already serving in a separate money laundering conspiracy case. Guaderrama also ordered the forfeiture of property traceable to the money laundering convictions, including Delgado’s El Paso home and its furnishings and more than $2 million he holds in a Turks and Caicos Islands bank account.
Delgado was previously sentenced to 16 years in prison in 2013 after another federal jury found him guilty of a conspiracy to launder up to $600 million in illegal drug proceeds. He has been in federal custody since his initial arrest in 2012.
Maureen Franco, a federal public defender who represents Delgado, did not return a call for comment.