Indictment — No. 3:25-cr-00163 (Dkt. 3, D.P.R.)

Summary

A sealed grand jury indictment against Edgardo Navarro Suarez, Ricardo Luis Navarro Suarez, Ramon J. Valentin Montalvo, JCA Development, Inc., JCA Packaging Group, Inc., RVIP Group Corp. and JCA Industrial Supply Corp., Case 3:25-cr-00163-CVR, filed March 27, 2025 as Document 3 in the U.S. District Court for the District of Puerto Rico. Count 1 charges wire fraud conspiracy under 18 U.S.C. §§ 1343 and 1349, Counts 2-7 bank bribery under 18 U.S.C. § 215(a), Counts 8-10 concealment money laundering and Counts 11-12 transaction money laundering under 18 U.S.C. § 1957. It alleges the conspirators submitted at least 26 EIDL and PPP applications seeking at least $2,238,747 from the SBA and Bank 1, and gave or promised at least $69,500 to a Bank 1 employee who processed PPP applications. The listed EIDL applications total $905,400.00.

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