US authorities have convicted Tomas Yarrington Ruvalcaba, former governor of Tamaulipas, Mexico and a former presidential candidate for Mexico, of money laundering. Sixty-four-year-old Yarrington has admitted to taking illegal bribe money of over $3.5 million from individuals and private companies to do business with Tamaulipas during his tenure as governor. He further used the bribe money to fraudulently purchase property in the US, such as a condominium in Port Isabel.
Yarrington admitted to being involved in a conspiracy to commit money laundering in a pay to play manner during 1999-2005. Yarrington’s nominee buyers purchased property on his behalf in the US to hide his ownership and the funding source.
Yarrington further accepted that he knew of the illegality of bribe-taking and hiding funds in the US by purchasing property. For his actions, Yarrington could face up to 20 years in federal prison. He will also have to forfeit his Port Isabel condominium.
Source: US Department of Justice