U.S. exporter Saba admits deceiving Ex-Im Bank for loan guarantee
September 18, 2014 at 16:37 PM EDT
NEW YORK, Sept 18 (Reuters) - Saba Inc, a Memphis, Tennessee-based exporter, has agreed to pay $3.5 million to settle U.S. charges that it committed fraud in obtaining a loan guaranteed by the Export-Import Bank of the United States to finance construction of a retirement complex in western Turkey.