Yáñez, freed on bail. Yáñez, freed on bail.

Corruption seen in release of ex-CEO

Former Oceanografía boss, charged with fraud, must wear tracking bracelet

Opposition politicians have declared that the release on bail of an accused fraudster this week is another indication of corruption in the federal government.

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Amado Omar Yáñez Osuna, accused in 2014 of a US $400-million fraud against the financial services group Banamex, was released after paying bail of 7.5 million pesos (over $400,000).

Yáñez, who was CEO of oil services firm and Pemex supplier Oceanografía, allegedly obtained loans from the subsidiary of United States-based Citibank based on $400 million in fraudulent accounts receivable.

The businessman is also accused of mismanagement of a 55-million-peso loan granted by the same bank to another firm, AMRH International Soccer, in a case that hasn’t required his imprisonment.

Yáñez had been behind bars at Mexico City’s Reclusorio Sur since October 2014 until a federal judge granted bail late Thursday after his right to obtain bail was assessed in light of the new justice system. Instead of preventive custody Yáñez must wear an electronic tracking bracelet and is forbidden to leave the country.

His release was not well received by federal opposition Deputies, who saw it as additional proof of corruption in the Mexican government.

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Vidal Llerenas Morales of Morena (National Regeneration Movement), questioned why the federal Attorney General’s office (PGR) accused Yáñez of only one crime.

“The authorities have to explain why he hasn’t been accused of other crimes. This is either protection by the government, inefficacy, or both,” said the Deputy, member of a commission that oversees decentralized government agencies and state-owned companies.

Llerenas said the government was using the new justice system as an excuse: “Since it is mandatory under this system to present proof, and since the PGR is useless, it fails to present it. The new system unveils the inefficiencies of the PGR.”

Waldo Fernández González of the  Democratic Revolution Party said Yáñez’s release “creates an institutional weakness.”

“Citizens perceive that corruption continues under the mantle of impunity, and the authorities must explain why [Yáñez] received that benefit,” said Fernández, who still considers the accused as a flight risk.

Source: Reforma (sp), La Jornada (sp)

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  • John Francis

    I have been tried by a state court for violent crimes under the old “no real trail” system for six and a half years now. The court is in the business of extorting money for verdicts and rulings and cannot conduct a real trial since they don’t know how to do that. 6 months ago the statute of limitations ran out to finish my trial, currently about 50% done. They have tried twice to trick me into letting them close the process but failed. Most criminals pay the court for a not guilty verdict. The clowns dealing with me have been paid to convict me by a man I exposed as a Canadian bad hombre. It’s not going to the highest bidder. Oh, I almost forgot. There is NO evidence, only accusations!

  • K. Chris C.

    Did he scam the Khazarian grift-machine, or act as launderer for the Khazarians’ military outfit, the CIA, via a sham-scam? How long he continues to breath will tell the tale.

    An American citizen, not US subject.

  • WestCoastHwy

    $400,000,000.00 USD for a $400,000.00 USS investment……I would call that good business practice. Now will his party throw him under the Bus or leave him hanging from the Bridge? That depends if he is willing to share his plunder?

    Oh, yes, a Pirate’s life is alive and well, ARGGGGG!

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