Ex-CMU trustee ordered held in Texas jail on money-laundering
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A Texas lawyer and former Carnegie Mellon University trustee was ordered held without bond today on charges that he laundered millions of dollars for a Mexican drug cartel.
Marco Delgado, 46, was hoping to be released on bond at a federal detention hearing in El Paso, but U.S. Magistrate Judge Norbert Garney sided with the U.S. attorney's office in ordering him to remain locked up pending trial.
Mr. Delgado was arrested Nov. 2 in El Paso on charges that he laundered money for the Milenio cartel between July 2007 and December 2008.
A federal agent testified today that the case began with the seizure of two duffel bags containing $1 million during a traffic stop in Atlanta in 2007.
Homeland Security agents developed the two men transporting the money as cooperating witnesses who led them to Mr. Delgado, according to testimony. Authorities arrested Mr. Delgado after he took possession of the cash under federal surveillance.
The agent also said today that Mr. Delgado maintained bank accounts and financial ties in Switzerland and Turks and Caicos Islands for hiding money. In addition, he testified that one of the government witnesses told authorities that he and Mr. Delgado traveled regularly to Cuba for sex with underage girls.
Mr. Delgado studied at CMU's Heinz School of Public Policy and Management, graduating in 1990. In 2003, he gave the Heinz School $250,000 to establish a fellowship in his name for Hispanic students.
Mr. Delgado was appointed to the board of trustees in 2006 but left this summer.
First Published November 14, 2012 5:08 pm