EXIM Supporter Investigated for Potentially Defrauding the Bank

Cause of Action Institute recently received documents indicating that a repeat customer and vocal supporter of the Export-Import Bank of the United States (“EXIM”) allegedly defrauded the bank. EXIM, which is tasked with assisting the financing of U.S. exports, has gained a reputation for favoring certain companies over others, which is exemplified by its nickname “the Bank of Boeing” for its preferential treatment of the airline. Recent reports from the Government Accountability Office and the EXIM Inspector General (”IG”) have also shown a disconcerting susceptibility to fraud.

Learn More

CoA Calls on IG to Investigate Use of Government Owned Vehicles at EXIM Bank

Cause of Action Institute (CoA Institute), a nonpartisan government watchdog organization, sent a letter today to the Office of Inspector General (OIG) at the Export–Import Bank of the United States (EXIM Bank), requesting the EXIM Bank’s Inspector General investigate the use of government owned vehicles by EXIM Bank staff based on documents uncovered by Cause of Action Institute through a freedom of information request. The newly released documents reveal troubling evidence of EXIM Bank staff abusing the use of government owned vehicles.

Kevin Schmidt, director of investigations at Cause of Action Institute issued the following statement:

“We’re calling on the EXIM Bank’s Office of Inspector General to launch an investigation into what appears to be ongoing abuse and use of government vehicles by Bank staff.

“As a result of our own independent investigation, we’ve discovered what appears to be unauthorized use of government vehicles by Bank staff, lack of details in automobile use logs that are required under EXIM Bank policies, including staff leaving off the purpose for the use of government owned vehicles.

“As a financial institution with the power to hand out billions of dollars in federally subsidized and backed loans to corporations, all taxpayers should be concerned that the bank staff cannot seem to follow standard government automobile use protocols that are designed to prevent abuse and protect tax dollars.”

EXIM Bank’s OIG had previously investigated this matter in 2016, producing a report that included a detailed list of deficiencies by the Bank and Bank staffs’ use of government owned vehicles.

Letter and exhibits to the EXIM Bank’s Office of Inspector General

Questionable Vehicle Use

Ex-Im Vehicle Use Policy

2019.4.3 FOIA Request to Ex-Im Bank Vehicle Use