Metals seized in alleged ‘carousel’ scheme

Jul 01, 2013 | 05:59 PM | Michael Cowden

Tags  Homeland Security, Recuperaciones Industriales Internacionales, Bernardo Llaguno, Equus Steel International, Steel Bird Brokers, BE-CA Copper, Red White & Blue Logistics, Daniel Coindreau aluminum imports

CHICAGO — Aluminum and copper shipments that federal authorities allege were smuggled between the United States and Mexico as part of a "carousel" scheme have been seized by the U.S. Department of Homeland Security.

The material was seized after an investigation into metal shipped between Mexico’s Recuperaciones Industriales Internacionales SA de CV (RIISA) and three U.S.-registered companies: Equus Steel International LLC, Steel Bird Brokers LLC and BE-CA Copper LLC, according a complaint filed in federal court in June by Kenneth Magidson, U.S. attorney for southern Texas.

Also involved in the alleged scheme was Red White & Blue Logistics Inc. Laredo, Texas, which federal investigators said received and inventoried overvalued metal imported by RIISA from Mexico before shipping the material to an Equus warehouse in San Antonio, Texas. The metal was then exported to Mexico at below-market prices, according to court documents.....





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