Featured Mexico

Mexican set up B.C. front company to launder money, CBSA says

A B.C. company set up by Mexican businessmen was used to launder millions of dollars of criminal proceeds, the Canada Border Services Agency alleges in Federal Court documents. The CBSA interviewed one of the men it claims is involved, Sergio Antonio Reyes Garcia, on March 3, 2019 when he arrived… Read More

Some Mexican Regulators Carry Their Resignation Letters at All Times

Mexico’s banking and securities regulator has already been hobbled by hundreds of resignations after the country’s new president slashed salaries and benefits. Now, one of his prospective laws threatens to set off an exodus of the agency’s top officials. The legislature is set this month to enact strict curbs… Read More

Mexico Prepares New Charges Against Former Pemex Boss

Mexican authorities are preparing to file more criminal charges against the former head of state oil company Petróleos Mexicanos, expanding the scope of the anticorruption efforts launched by the government of President Andrés Manuel López Obrador. Emilio Lozoya, the former CEO of Pemex, has been at large since late May,… Read More
15th August 2019
Mexican President Andres Manuel Lopez Obrador said on Wednesday that his predecessor, Enrique Pena Nieto, is not under investigation in a probe into suspected corruption that has ensnared one of Pena Nieto’s former cabinet ministers. On Tuesday, a judge ordered that former Social Development Minister Rosario Robles be detained pending… Read More
14th August 2019
A judge ordered a former Mexican Cabinet minister to be detained pending a trial over suspected losses to taxpayers, her lawyer said on Tuesday, opening a new front in President Andres Manuel Lopez Obrador’s campaign to eradicate corruption. The detention of former social development minister Rosario Robles is likely to… Read More
12th August 2019
Mexico is considering a ban on the use of cash for purchasing gasoline and to pay for tolls as a way to fight tax evasion and money laundering, according to people with direct knowledge of the discussions. The plan, which has been discussed between the banking industry and the government,… Read More
6th August 2019
HSBC has unexpectedly parted ways with its chief executive, John Flint, less than 18 months after his appointment and said it could cut nearly 5,000 jobs due to a weaker outlook. The bank, which has its headquarters in the UK, was vague over the cause of Flint’s departure, saying… Read More
30th July 2019
Spain’s National Court has charged Banco Bilbao Vizcaya Argentaria (BBVA) with “corruption and breach of confidence,” a court spokesman said on Monday. Anti-corruption prosecutors had referred the case to the high court five days earlier. BBVA is Spain’s second-largest bank, with a strong presence in Latin America and the south… Read More
29th July 2019
AP — Mexican officials say the shooting death of two Israelis at an upscale shopping mall in Mexico City is likely linked to drug cartels and money laundering. Mexico’s top police official won’t say which cartel may have been involved in the brazen assault, which included a diversionary attack with… Read More
25th July 2019
The mother of Emilio Lozoya, the former chief executive of Mexican state oil company Pemex and a close confidant to ex-President Enrique Pena Nieto, has been arrested in Germany, Lozoya’s lawyer said on Wednesday. Lozoya and several of his family members have been accused of involvement in a wide-ranging bribery… Read More
18th July 2019
Joaquin “El Chapo” Guzman, the Mexican drug lord found guilty of running a murderous criminal enterprise that smuggled tons of drugs into the United States, was sentenced by a U.S. judge on Wednesday to spend the rest of his life in prison. Guzman berated the U.S. justice system, and a… Read More
15th July 2019
The founder of a Washington private intelligence company is in deep trouble with the feds for his alleged willingness to take on a risky new client: a Mexican drug cartel. On Wednesday, federal law enforcement raided the house and seized the electronics of executive Michael Bagley in connection with a… Read More
10th July 2019
AP — Mexican federal prosecutors say they have arrested a prominent lawyer on suspicion of involvement in organized crime and money laundering. A statement from the Attorney General’s Office says attorney Juan Ramón Collado was detained Tuesday in an affluent neighborhood of Mexico City after a judge authorized his arrest. Read More