Civil Division Recovers Almost $2 Million Owed To Federal Agency
For Immediate Release
U.S. Attorney's Office, Middle District of Louisiana
BATON ROUGE, LA – United States Attorney Walt Green announced today that a cash payment of almost $2 million has been made to the Export-Import Bank of the United States (“the Bank”), an agency of the federal government, as part of the settlement of a civil lawsuit filed by the U.S. Attorney’s Office in the Middle District of Louisiana on the Bank’s behalf.
The Civil Division of the U.S. Attorney’s Office filed the two-year old civil lawsuit against a group of individuals and businesses, primarily based in Portland, Oregon. The lawsuit sought to recover highly-customized, industrial equipment in Port Allen, Louisiana, which served as collateral on a government-owned $4.5 million loan that had gone into default.
Defendants Frank Cutler of Newport Beach, California, and James Cutler of Wilsonville, Oregon, made the almost $2 million payment as part of a settlement previously reached between the United States and the defendants. The other defendants are paying the remainder of the debt, which is now approximately $3 million, in a schedule of payments over time. Those defendants are R. Patrick Garrett of Portland, Oregon, and the following entities based in Oregon: Meco Environmental, LLC; Mobile Environmental Technologies, Inc.; ICI Process Technologies, LLC; ICI, LLC; and Terra Sana, Ltd.
The Export-Import Bank of the United States is the official export credit agency of the United States. Its mission is to assist in financing the export of U.S. goods and services to international markets. It enables U.S. companies – large and small – to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy. It does not compete with private sector lenders, but provides export financing that is otherwise not available.
United States Attorney Green stated: “Today’s payment is another good example of protecting the taxpayers’ dollars. It is critical that agencies of the federal government, such as the Export-Import Bank, are not unfairly taken advantage of and that those receiving assistance from such agencies live up to their obligations and responsibilities, such as repaying a loan. Our Civil Division will continue to steadfastly pursue civil claims against those owing money to agencies of the federal government, as well as those who seek to defraud the federal government. I commend the critical work performed by the attorneys and staff in the Civil Division in this matter and the many others like it.”
This matter was handled by Assistant United States Attorney James L. Nelson who serves as the Affirmative Civil Enforcement Coordinator.
Updated December 15, 2014