UPDATE: Sunil Wadhwani appeared in court today on charges he conspired to commit honest services wire fraud.
The judge levied a $50,000 against Wadhwani, who is expected to be released later today.
See the original article below and check back later for more information.
A 56-year-old McAllen man was arrested this morning on charges he conspired to commit honest services wire fraud, a news release from U.S. Attorney Ryan K. Patrick announced.
Sunil Wadhwani was arrested Wednesday morning following the filing of a criminal complaint Tuesday. His first appearance in court is slated for today at 11 a.m.
According to the release, Wadhwani worked with others in order to “obtain a development agreement with favorable terms containing $300,000 in incentive agreements from the City of Weslaco Economic Development Corporation.”
Wadhwani is accused of working with at least three other people, and a Weslaco city commissioner, on a plan to scam the city out of $300,000 to be paid out over two installments, according to records.
Check back later for more information.