Former Fresno Resident Charged For Fraudulent Bonding Scheme Involving Government Contracts
FRESNO, Calif. — Abel Martin Carreon, 55, formerly of Fresno, made his first appearance in United States District Court in Fresno for a scheme to defraud the government that resulted in a loss of more than $1 million, United States Attorney Benjamin B. Wagner announced
On July 11, 2013, a federal grand jury returned a 23-count indictment charging Carreon with mail fraud, wire fraud, major fraud against the United States, aggravated identity theft and money laundering. He was arrested in Southern California.
According to the indictment, between April 2005 and May 2011, Carreon ran a business that offered bonding services to prospective government contractors throughout the United States. The bonds are required for bidding on many government contracts. The bonds insure that a contract will be completed in accordance with the terms and conditions of the contract, and in the event the contractor defaults, the bonds make sure suppliers and subcontractors are paid and the government is compensated for the financial loss.
According to the indictment, Carreon marketed his services to contractors who may have had difficulty getting bonded by other companies. Because his acceptance policies were less stringent, he charged the contractors higher premiums. The bond packages he submitted contained false statements and fraudulent documents. He claimed individual sureties that did not exist. He pledged as collateral common stock that did not exist, was substantially less than represented, or was pledged across multiple bonds without full disclosure. He used forged notary stamps and notary signatures and other forged signatures on the bond documents.
Department of Interior, Office of Inspector General Assistant Special Agent-In-Charge, Eric May stated: "This indictment represents the Department of Interior's, Office of Inspector General's commitment to pursue fraud involving the Department's programs and operations."
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