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U.S. District Court, District of Columbia

In this fraud action, a lending and financial services company was accused of violating the False Claims Act. The matter was resolved via settlement.

The defendant, Hencorp Becstone Capital L.C., is a Miami-based lender and financial services company that provide financing and other financial services to Latin American businesses. The defendant was accused of making false statements and claims to the Export-Import Bank of the United States (Ex-Im Bank) in order to obtain loan guarantees. The Ex-Im Bank guarantees loans made by approved lenders to foreign businesses for the purchase of American-made products. According to the U.S. Department of Justice (DOJ), the lender is responsible for performing a credit review of the transaction to ensure that it meets applicable criteria. The DOJ alleged that Ricardo M. – a Peruvian-based former Hencorp business agent – created false documentation to obtain Ex-Im Bank guarantees on fictitious transactions on which no products were sold or exported. The DOJ asserted that defendant recklessly outsourced key credit review functions to Mr. M. without adequate supervision or oversight, and then diverted the proceeds of the loans to himself; including his friends and business associates in Peru.

The whistleblowers filed suit in the U.S. District Court for the District of Columbia. The defendant, Hencorp, was accused of violating the False Claims Act, resulting in losses to the Ex-Im Bank when the loans were not repaid. The whistleblowers were Genaro C., a former owner of one of the purported purchasers, and Patricia Doris Lee D., a former attorney for the purported purchaser. M C. stated that he had no part in the scheme, and that his signature was forged on key documents without his knowledge.The matter was resolved via settlement for $________, with no admission or determination of liability with respect to Hencorp. The whistleblowers will receive $________ of the settlement.

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