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Press Release

Anchorage Man Extradited from Mexico to Face Charges after Stealing Over $4 Million from Keybank

For Immediate Release
U.S. Attorney's Office, District of Alaska

Anchorage, Alaska – U.S. Attorney Bryan Schroder announced today that an Anchorage man has been extradited from Mexico back to the United States to face charges filed against him in 2011 for stealing approximately $4.3 million dollars belonging to KeyBank. 

Gerardo Adan Cazarez Valenzuela, a/k/a “Gary Cazarez,” 33, of Anchorage, was named in the 2011 superseding indictment charging him with theft of bank funds.  Cazarez has been extradited from Mexico and will have his initial appearance in the case in Anchorage on Sept. 27, 2018, a 10:30 am. 

According to charging documents, on or about July 29, 2011, Cazarez was the Cash Vault Services Manager for KeyBank when he stole approximately $4.3 million dollars in U.S. Currency from KeyBank in Anchorage, and then flew in a chartered jet to Washington, bought a car, and drove to Mexico.  Cazarez was arrested by Mexican authorities on Aug. 2, 2011, when a random search of his luggage at a checkpoint revealed $3.8 million in cash, firearms, and ammunition. 

Cazarez was charged and convicted in Mexico of criminal offenses analogous to money laundering and illegal possession of firearms for smuggling the cash and firearms into Mexico.  After serving a term of imprisonment for his Mexican conviction, Cazarez was extradited to the U.S. to stand trial for the crimes charged in the superseding indictment.

If convicted, Cazarez faces a sentence of up to 30 years in prison, and a fine of up to $1 million dollars.  Under the federal sentencing statutes, the actual sentence imposed will be based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.

The Federal Bureau of Investigation (FBI) conducted the investigation leading to the indictment in this case.  This case is being prosecuted by Assistant U.S. Attorneys Aunnie Steward and Joe Bottini.  The Department of Justice’s Office of International Affairs provided substantial assistance in the case, as did the government of Mexico.

An indictment is only a charge and is not evidence of guilt. A defendant is presumed innocent and is entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.

Updated September 26, 2018