Vallee Oil Execs Indicted in Multi-Million-Dollar Oil Theft Scheme
Three men have been indicted for their alleged role in an oil theft scheme that spanned over a year. Leandro Juarez, Moses Juarez, and Eduardo Lopez are accused of purchasing and receiving stolen crude oil from locations in New Mexico's Permian Basin region.
According to court documents, the FBI began investigating Vallee Oil & Gas Inc. in January 2024 after discovering that the company was buying oil that had been stolen from other producers. The indictment alleges that Leandro Juarez, as the founder and president of Vallee, directed employees to pay drivers hauling the crude oil at approximately half its value.
The defendants are also accused of using a tactic to evade reporting requirements, issuing over $290,000 to a single driver in amounts below $10,000. U.S. Attorney Justin R. Simmons described the scheme as 'common thievery' that drives up costs for oil and gas producers, ultimately affecting American taxpayers.