Mission businessman indicted on federal fraud charges - Govt seeks to seize 36 million in assets
McALLEN — local businessman accused of laundering money, bank fraud and attempting and conspiring to commit mail fraud appeared in federal court Tuesday morning.
A week after federal agents arrested him in connection with a money laundering conspiracy, Luis Carlos Castillo-Cervantes appeared before U.S. Magistrate Peter Ormsby for a bond hearing.
But before the proceeding could get underway, Castillo’s attorney, Ricardo Salinas, invoked his client’s right to have a hearing in Corpus Christi where the indictment originated.
In the indictment, unsealed Nov. 9, the feds accuse Castillo, a naturalized U.S. Citizen originally hailing from Mexico, of using U.S. banks to launder proceeds from fraud and being in possession of more than $5,000 in stolen funds.
Read more: http://www.themonitor.com/news/local/mission-businessman-indicted-on-federal-fraud-charges/article_4586d790-abb0-11e6-b774-57a8cbdd745c.html
