The first of eight local properties the feds say were bought with public money laundered from the Mexican borders state of Coahuila was sold for nearly $7 million Thursday.
The
San Antonio Express-News reports that the highest bidder, who paid $6.75 million for the North Pointe Shopping Center at Redland Road and U.S. 281, declined to be named or say what he'll do with the property. According the newspaper, the shopping center that contains business like Smokers Galaxy and The Angry Elephant bar was valued at $8.6 million. All of the properties the U.S. seized are valued at $36 million and will be auctioned off through the rest of this year, according to the daily.
The feds claim the property was bought with dirty money by Héctor Javier Villarreal, Coahuila’s former treasurer, who has pleaded guilty to his role in a massive money laundering conspiracy. According to the
United States Attorneys Office, Villarreal used public funds he stole to buy properties in San Antonio, Brownsville and on South Padre Island. He was indicted on charges in February 2014 and pleaded guilty in September of that same year. He is scheduled to be sentenced in October. The
Express-News writes that, "as part of a deal he cut behind closed doors," Villarreal forfeited $10 million and handed over the properties. The feds let his mom keep a house and gas station she owns in the Valley.
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