In a significant conviction within the energy sector, a former GE executive has been found guilty on charges of fraud and identity theft in a scheme implicating both a subdivision of the GE Company and the Angolan Government. According to the U.S. Attorney's Office for the Southern District of New York, Wilson Daniel Freita Da Costa was convicted for disseminating false documents to facilitate a payout of hundreds of millions of dollars from a $1.1 billion GE loan to the Angolan government, which had not agreed to the terms stipulated by the forged paperwork.
U.S. Attorney Damian Williams described the actions of Da Costa as a blatant exploitation of trust for personal gain. "As a unanimous jury of his peers has found, Wilson Da Costa brazenly used forged documents to deceive a subdivision of the GE Company and the Angolan Government, causing hundreds of millions of dollars to be disbursed," Williams stated. Da Costa's conviction comes after a two-week trial that culminated in the former GE Angola CEO facing up to 20 years in a prison for wire fraud, alongside two counts of aggravated identity theft, each carrying a mandatory minimum two-year sentence, as detailed by the U.S. Attorney's Office.
The trail of deceit outlined at trial revealed that Da Costa, with an illicit intent, had distributed fake documentation on Angolan Government letterhead, forging signatures of government officials. Through these fabricated commitments for purchasing more GE-manufactured turbines than had been agreed upon, Da Costa set off a cascade of financial transactions under false pretenses. When suspicions arose about the actual number of turbines ordered by the Angolan Government, Da Costa doubled down, sticking to the same forged papers.
The ramifications of these actions were twofold; not only did the Angolan Government face undesired financial obligations, but Da Costa also lined his pockets with kickbacks from the contracts. For his role in this complex scheme, he now awaits sentencing before Judge P. Kevin Castel on February 26, 2025. The case was thoroughly investigated by Homeland Security Investigations and prosecuted by the Office’s Illicit Finance & Money Laundering Unit. Assistant U.S. Attorneys, as well as Paralegal Specialists, were acknowledged by Williams for their dedication to bringing this case to a close.
