Mexican regulator probes fresh Banamex fraud claim

Mexican regulator probes fresh Banamex fraud claim

Bonds

Mexico’s securities regulator, the CNBV, has uncovered a potential new fraud at Citi’s Mexican unit Banamex as part of a wider investigation regarding loans to a Pemex supplier. The CNBV has been investigating Banamex since February for allegedly lending around $400m to Pemex supplier Oceanografia against fake invoices. The second fraud case involves a different borrower that took loans worth less than $30m, the CNBV said. “In relation to this second company, the CNBV has made investigations to

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial