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Justice News

Department of Justice
U.S. Attorney’s Office
Western District of Texas

FOR IMMEDIATE RELEASE
Monday, April 20, 2015

San Antonio Businessman Sentenced to Federal Prison for Bank Fraud and Failure to File Income Tax Return

In San Antonio today, 38-year-old businessman Marcus A. Garza was sentenced to 30 months in federal prison and ordered to pay over $680,000 restitution for defrauding several financial institutions announced Acting United States Attorney Richard L. Durbin, Jr., and Internal Revenue Service-Criminal Investigation (IRS-CI) Special Agent in Charge William Cotter.

According to court records, Garza owned multiple companies including: Auto nSure, a company which sold insurance policies underwritten by other insurance companies to the general public; Liberty Pre-Owned Cars and Trucks; Marcus Garza Enterprises, LLC, which handled payroll matters for all of the defendant’s business concerns; and, eTax Express, Inc., a tax return preparation business.  On March 24, 2014, Garza pleaded guilty to one count of bank fraud and one count of failure to file an income tax return.  By pleading guilty, Garza admitted that from 2005 to 2009, he provided false income tax returns and other documentation showing his income and credit worthiness to lenders in order to secure hundreds of thousands of dollars in loans and lines of credit, many of which subsequently went into default.  Garza also admitted that he failed to file an income tax return for calendar year 2006.

This case was investigated by Internal Revenue Service-Criminal Investigation.  Assistant United States Attorney William R. Harris prosecuted this case on behalf of the Government.

Topic(s): 
Financial Fraud
Component(s): 
Updated April 20, 2015