Eight charged in conspiracy to commit Fraud VS Ex-Im Bank of the US

"We will not tolerate fraudulent use of Ex-Im Bank financing," said Ex-Im Bank Chairman and President James H. Lambright. "With the help of the Justice Department, we will continue to pursue anyone attempting to rip off the taxpayer."

The scheme was initially uncovered by Ex-Im Bank staff. After the Bank's preliminary investigation the matter was referred to the Department of Justice (DOJ).

"The pleas are the result of an extensive investigation conducted jointly by the Justice Department, FBI, and U.S. Postal Inspection Service with the assistance of Ex-Im Bank," said General Counsel Howard Schweitzer, "and we will continue to work together as the investigation progresses."