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Estonia Bakery Project Drew Fraudulent Federal Funding Says DoJ

September 24, 2009

The federally-funded Overseas Private Investment Corporation (OPIC) was cheated out of approximately $8 million in fraudulent loans to a company called Golden Sierra Partners, LLC purportedly for the purpose of establishing a bakery in Estonia, claims the DoJ. OPIC is an independent government agency that lends money to U.S. companies investing in developing countries. Donald Daniels, Martin William Washburn, Irina Rebegeneau, and Tapani Koivunen have been charged with defrauding OPIC through the alleged scheme. The Defendants are presumed innocent and await trial.

To report government fraud and abuse, contact Frohsin & Barger.

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