Tuesday, April 1, 2025

Businessman arrested for theft of 5bn pesos from housing fund

A businessman accused of looting 5 billion pesos from the national housing fund has been arrested in Xochitepec, Morelos.

Teófilo Zaga Tawil was apprehended Friday morning for organized crime and money laundering relating to contracts between his company and the National Workers Housing Fund (Infonavit), a state run fund which helps people gain access to mortgages.

The public prosecutor’s office believes that the contracts and payouts between his company, Telra Realty, and Infonavit were illicit because they were awarded without any bidding process, and the company did not not have the capital, professional experience or infrastructure to carry out the work.

It also says Infonavit officials simulated the mediation process.

Early termination of contracts forced Infonavit to pay 5.88 billion pesos to Telra in compensation in 2017.

His brother, Rafael Zaga Tawil, and nephew, Elías Zaga Hanono, are also being sought.

Sources: Milenio (sp), Reforma (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Los Alegres de Barranco band poses with instruments and cowboy hats

US revokes visas of Mexican band who paid homage to cartel boss ‘El Mencho’

5
The band Los Alegres del Barranco is at the center of a heated controversy after paying tribute to notorious drug lord Nemesio "El Mencho" Oseguera Cervantes during a recent concert.
Kristi Noem and President Trump

Homeland Security Secretary outlines Trump’s ‘wishlist’ for Mexico to sidestep tariffs

13
The list of requests was presented to President Sheinbaum by Homeland Security Secretary Kristi Noem, who suggested Mexico may still be able to avoid tariffs before Wednesday.
A stack of tortillas with a hand at the top, pulling a couple of tortillas off the stack.

UNAM designs a ‘supertortilla’ to fight malnutrition in Mexico

6
According to federal data, over 18% of Mexicans lack access to quality nutritional food, while obesity and diabetes are prevalent in Mexico.