A Rio Grande Valley construction company has pled guilty to a financial fraud scheme.
47-year-old Delfino Gaona pled guilty of conspiring to defraud the United States, and one count of failing to file a currency transaction report by a non-financial trade or business.
After his guilty plea, he agreed to pay over two million dollars. Gaona is the owner of Keystone Construction. According to the document, he accepted over $10,000 from about 13 separate real estate transactions, but he failed to file an IRS form 8300 for each transaction. As a part of his plea, he admitted to receiving more than 2.5 million dollars, and structuring transactions in falsifying receipts to evade the reporting equipment.
Sentencing will be June 24th.