Luis Valencia, Oil Theft, Texas 2016
Luis Valencia and Nephew Convicted in Oil Theft Scheme
San Antonio, TX - In a stunning verdict, a federal jury convicted 49-year-old Luis Valencia of San Antonio for his role in a brazen scheme to steal oil from energy companies operating in the Eagle Ford Shale.
According to the U.S. Attorney's office, Valencia and his nephew, Mauricio Valencia, stole approximately 33,000 barrels of crude oil valued at over $1.8 million between September 2013 and February 2016.
The defendants used Houston-based Andra Energy, LLC, as a collection point in Cotulla, TX, for the stolen oil. To conceal their crimes, they filed false documents with the Texas Railroad Commission, making it appear that the stolen oil came from legitimate transactions.
Luis Valencia was convicted of ten counts of theft from interstate shipments, ten counts of wire fraud, ten counts of money laundering, and four counts of transportation of stolen goods. Mauricio Valencia was convicted of ten counts of theft from interstate shipments, one count of wire fraud, and four counts of transportation of stolen goods.
Sr. U.S. District Judge Royce Lamberth remanded both defendants into the custody of the U.S. Marshals Service following the verdict. The defendants face up to ten years in federal prison for theft of interstate shipment, up to 20 years for wire fraud, up to ten years for money laundering, and up to ten years for transportation of stolen goods.
The FBI, IRS-Criminal Investigation, and Texas Attorney General's Office investigated this case. Assistant U.S. Attorney William F. Lewis, Jr., is prosecuting the case on behalf of the government.
Valencia's sentencing has yet to be scheduled. The case highlights the importance of vigilance in the energy industry and the consequences of stealing from interstate shipments.
Key Facts
- State: Texas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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