Monday, October 26, 2020

Former Pemex chief offered to talk in corruption probe

-

President Andrés Manuel López Obrador said Sunday the former head of Mexico’s state oil company has offered to talk about investigations into corruption at the company, known as Pemex.

López Obrador said Emilio Lozoya “has offered to talk,” adding “it is going to be very interesting for this man to tell how much money he received and how the money was distributed.”

The investigations involve alleged bribes paid by the Brazilian construction giant Odebrecht and the 2015 purchase of a fertilizer plant by Pemex at an inflated price. Lozoya dropped his fight against extradition from Spain in June and agreed to return to Mexico.

Spanish police arrested Lozoya in the southern city of Malaga in February on an international warrant issued by Mexico. He has repeatedly denied wrongdoing.

- Advertisement -

Lozoya was director of Pemex between 2012 and 2016, during the administration of former President Enrique Peña Nieto.

In late 2016, Odebrecht reached an agreement with American, Brazilian and Swiss justice officials to pay millions of dollars in penalties. As part of that accord, Odebrecht divulged details of bribes across several countries. It said it paid $10.5 million to officials at Pemex between 2010 and 2014. Lozoya has denied taking bribes.

The scandal grew in late 2017 when a series of videos of statements by former Odebrecht executives were released, including its former Mexico director, Luis de Meneses. They directly implicated Lozoya, who in 2012 had been a key member of Peña Nieto’s presidential campaign.

While the Odebrecht revelations led to a wave of corruption investigations and arrests across Latin America, Lozoya is the first Mexican arrested in relation to the scandal.

- Advertisement -

MUST READ

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Guatemala seeks arrest of ex-minister linked to a $16m cash discovery

Guatemalan prosecutors are seeking the arrest of the former communications minister for ex-President Jimmy Morales on money laundering charges after finding a connection to...

UK regulators fine Goldman Sachs £97 million over 1MDB scandal

Goldman Sachs International has been fined £96.6m by UK regulators for risk management failures connected to the 1MDB scandal. The Financial Conduct Authority and Prudential...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks