December 21, 2007
December 21, 2007
EL PASO MEN PLEAD GUILTY TO CONSPIRACY TO COMMIT MAIL FRAUD, WIRE
FRAUD AND THE DEPRIVATION OF HONEST SERVICES
United States Attorney Johnny Sutton announced this afternoon former investment bankers Roberto Gerardo Ruiz, a.k.a. “Bobby” Ruiz , former Managing Director for the Dallas, Texas office of Bear Stearns and Christopher Chol-Su Pak, a.k.a. Chris Pak, former Vice President in the Dallas, Texas, office of Bear Stearns pled guilty to charges stemming from their respective roles in conspiracies that deprived the citizens of El Paso of their right to the honest services of their public
officials.
Defendant Roberto Ruiz pled guilty to four counts of conspiracy to commit mail, wire fraud and a scheme to defraud the citizens of their right to the honest services of elected officials of the El Paso Independent School District, the El Paso Community College District, the City of El Paso, and the members of the El Paso County Commissioner’s Court by seeking to bribe elected members of those respective boards and councils to secure their votes for certain vendors seeking to do business with the various public entities.
Defendant Chris Pak pled guilty to engaging in a scheme to bribe an elected El Paso County
Commissioner in an effort to secure his vote for a specific vendor seeking to do business with the
County of El Paso.
This is an ongoing investigation being conducted by the Federal Bureau of Investigation. Assistant United States Attorney Debra Kanof is prosecuting this case on behalf of the government.
Bear Stearns itself is in the midst of some turmoil, according to this New York Times Article. [link]