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Trustee charged with money laundering pleads not guilty

A former Carnegie Mellon trustee has been charged with conspiracy to commit money laundering. Marco Delgado (HNZ ’90), a lawyer who lives in El Paso, Texas, was arrested by U.S. Department of Homeland Security agents in Texas last Friday, according to the Pittsburgh Post-Gazette.

According to court documents, a grand jury indicted Delgado for laundering money associated with drug dealing in Texas and outside the U.S. from July 2007 to December 2008. The Post-Gazette reported that he allegedly helped the Mexican Milenio drug cartel, also known as Cartel de los Valencia, launder approximately $600 million. Delgado endowed a scholarship in Heinz College for Hispanic graduate students in public policy and management in 2002; in 2005, the Carnegie Mellon Alumni Association granted him an Alumni Service Award, which recognizes those who have been active in alumni or university affairs. According to the Post-Gazette, Delgado was appointed to Carnegie Mellon’s Board of Trustees in 2006. He was listed as a board member for this year, but left the board this summer.

This is not the first time that a university affiliate has faced charges of money laundering. In 2009, the general partners of Westridge Capital Management, Inc., in which Carnegie Mellon was an investor, were brought up on charges of money laundering, fraud, and conspiracy. According to Bloomberg, the partners used investment money to buy “homes, cars, horses, and collectible teddy bears.” Carnegie Mellon and the University of Pittsburgh, which was also an investor, sued.