Feds seek convicted Conn. financier's tax refund

Print
Email
|

Associated Press

Posted on June 29, 2013 at 9:07 AM

Updated Saturday, Jun 29 at 9:07 AM

NEW HAVEN, Conn. (AP) — Federal prosecutors want a Venezuelan-American financier to hand over a large tax refund while he awaits sentencing in a massive Connecticut-based fraud scheme.

Prosecutors say Francisco Illarramendi (ee-yah-rah-MEHN'-dee) misused an earlier refund and faces paying restitution that could be hundreds of millions of dollars.

Prosecutors say they believe the refund check to Illarramendi and his wife exceeds $2 million and want it deposited with the court pending his Stepember sentencing.

Illarramendi pleaded guilty in 2011 to several counts of fraud and conspiracy to obstruct justice in a scheme to conceal huge losses. His biggest client was a pension fund for state oil workers in Venezuela.

Illarramendi's attorney didn't object. But a lawyer for Illarramendi's wife believes the check must be deposited with a judge overseeing the case and says she wants a portion to pay her living expenses.

Print
Email
|