MEXICO CITY, April 13 The former chief executive
of a Mexican oil services company arrested over a loan scandal
that inflicted hefty losses on Citigroup Inc's local Banamex
unit was released from prison on Thursday, an official in the
city government said.
Speaking on condition of anonymity, the official confirmed
media reports that Amado Yanez, who was CEO of the Oceanografia
firm when the scandal over bogus loans broke in 2014, left the
prison in Mexico City early on Thursday.
Mexican media said that a Mexico City judge had ordered
Yanez's release after payment of bail of 7.5 million pesos
($404,000), and that the investigation against him would
continue. The city official could not confirm this detail.
A federal judicial source said media reports about the
release of Yanez, which occurred at the start of a four-day
holiday weekend, appeared correct, but that no notification had
been submitted by the court.
An official at the court reached by telephone said she was
not authorized to comment on the matter.
Citigroup said that due to the alleged fraud it discovered
at its Mexican subsidiary, it had to write down about $400
million of loans backed by bogus invoices. The then-chief
executive officer of Banamex stood down in October 2014.
Yanez was also majority owner of Oceanografia, for years a
top service provider to state-run Mexican oil firm Pemex. The
government seized the company's assets after the loan scandal
($1 = 18.5767 Mexican pesos)
(Reporting by Adriana Barrera and Dave Graham; Editing by Dan