Former Houston Oil Supply Company Execs Plead Guilty to Wire Fraud

Two former Houston oil supply company executives — Franklin Marsan, 51, of Spring, Texas, and Eduardo Betancourt, 48, also of Spring — have pleaded guilty to one count of conspiracy to commit wire fraud for allegedly taking illegal kickbacks from sales agents, according to the FBI.

Federal law prohibits the use of the mail or any wire communications technology to commit fraud. Mail and wire fraud are often ancillary charges to other white collar crimes, since those crimes typically involve some sort of mail or Internet communication between parties to commit the fraud.

Marsan and Betancourt worked for a Houston-based company that manufactured and supplied oil field products for the oil and gas industries. The company used third-party sales agents to sell its products outside the U.S. The defendants were in charge of the company’s Latin American operations, which they managed from their Houston office.

According to the plea agreements, the defendants admitted that they obtained kickbacks from the sales commissions of third-party agents in several Latin American countries, totaling at least $150,000 from 2008 until March 2011. The defendants admitted that they hid the kickbacks from the company and agreed to pay restitution to their former employer as part of the plea agreements.

The defendants will be sentenced by U.S. District Judge Melinda Harmon of the Southern District of Texas on July 1, 2016.

Federal fraud crimes are usually felony offenses, and can include prison time, fines, restitution and probation. A federal fraud charge is very serious and one that requires the expertise of an experienced white collar criminal attorney. With endless resources at its disposal, the federal government can devote a lot of time and effort into prosecuting a fraud crime.

Whether you are facing a serious federal white-collar prosecution, a state murder charge, or misdemeanor charges, The Cogdell Law Firm has the experience, knowledge and reputation you want for your legal team. When results matter most, contact Dan Cogdell at (713) 426-2244 or dan@cogdell-law.com

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