Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Mexican court orders arrest of ex-Pemex boss pending graft trial

Published 06/17/2019, 04:56 PM
Updated 06/17/2019, 05:00 PM
© Reuters. FILE PHOTO: Emilio Lozoya, former CEO of Petroleos Mexicanos (Pemex)

MEXICO CITY (Reuters) - A Mexican court ruled on Monday to allow the arrest of Emilio Lozoya, former chief executive of state-owned oil company Pemex, who is facing corruption charges, according to a court document dated Monday and seen by Reuters.

The decision nullified an earlier ruling that suspended an arrest warrant against Lozoya issued last month. "The suspension that had been granted is null and void," the document said.

Mexican authorities say the case centers on bribes paid in connection with the purchase by Pemex of a fertilizer plant under the previous government. Reuters could not reach Lozoya for comment. He has always denied wrongdoing and defended the fertilizer factory purchase as a wise investment.

"I know perfectly well that he committed no crime," one of Lozoya's lawyers, Javier Coello, told local radio on Monday, vowing to fight the charges at trial.

© Reuters. FILE PHOTO: Emilio Lozoya, former CEO of Petroleos Mexicanos (Pemex)

The government's move against Lozoya is one of Mexican President Andres Manuel Lopez Obrador's boldest steps, since taking office in December, to fulfill a campaign promise to stamp out corruption.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.