Tag Archives: Mexico

Citigroup Victim Of $400 Million Mexican Fraud

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“Not for the first time, Citigroup has stepped into a mess. The problem is that the lender has been cheated out of the cash in one of the most basic businesses in banking. That should worry Citigroup’s rivals, too.  Citigroup’s latest slip emerges from the usually sleepy world of accounts receivable. This is the unit that makes short-term loans while clients wait for money owed to them by other companies to arrive. In this case, by the end of 2013, Citigroup thought it had lent Oceanografia, a Mexican oil-services firm, $585 million to cover any shortfalls while it waited for the state oil company Pemex to pay some bills.  Citigroup has now worked out that only $185 million of the invoices were valid.”

http://dealbook.nytimes.com/2014/02/28/a-maelstrom-of-fraud-without-early-warning/?_php=true&_type=blogs&_r=0

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An Armed People in Mexico and Their Threat to the State

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“The self-defense groups have been organizing themselves–and have seized towns throughout Mexico in over 11 states–to fight against cartels like the Knights Templar in Michoacan under the umbrella of the Consejo de Autodefensas Unidas de Michoacan (Council ofUnited Self-Defense Groups of Michoacan). The Mexican government just sent their military to disarm them in Parácuaro , according to reports shooting 7-12 and killing 4 people, including an 11 year old girl, only to later return their weapons due to public pressure. People from Parácuaro came out to the main road to confront the military with sticks and stones, which forced them to return the weapons.”

http://joaquincienfuegos.blogspot.com/2014/01/an-armed-people-and-their-threat-to.html

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A Secret Deal Between The DEA And Mexico’s Sinaloa Drug Cartel?

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“An investigation by a major Mexican newspaper, El Universal, has concluded that the U.S. Drug Enforcement Agency entered into agreements—dating back to 2000 and continuing through 2012—with Mexico’s largest drug trafficking gang, the Sinaloa Cartel.  According to Jesus Vicente Zambada-Niebla, a highly placed member of the Sinaloa cartel and the son of top Sinaloa leader Ismael “El Mayo” Zambada, the deal involved the cartel providing information about rival Mexican drug gangs to the DEA in exchange for the U.S. government agreeing not to interfere with Sinaloa shipments into the United States and the dismissal of criminal charges against cartel participants.”

http://www.forbes.com/sites/rickungar/2014/01/14/was-operation-fast-and-furious-really-part-of-a-secret-deal-between-the-dea-and-mexicos-sinaloa-drug-cartel/

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Uruguay may have started a marijuana legalization storm

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“It’s barely been a month since Uruguay moved to legalize marijuana, and yet the effects of the decision are already being felt well outside of its borders.  Neighboring Argentina, a long-time proponent of keeping marijuana illegal, gave its first indication that Uruguay’s pivot has tempted it to at least consider legalizing the drug.  There are signs that Mexico is pondering legalization too.  Chile already allows adults to privately consume drugs, and may be on the verge of mulling further legalization of marijuana.  An overwhelming majority of Argentine, Chilean, and Mexican youth are in favor of legalization—81%, 79%, and 73%, respectively.”

http://qz.com/161903/uruguay-may-have-started-a-marijuana-legalization-storm-in-latin-america/

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The U.S. Dollar’s Days are Numbered …

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“The U.S. and the euro zone will likely complete a free-trade agreement next year. It will be the largest agreement of its kind in history, representing almost 50% of world GDP. Mexico had the highest percentage growth in household wealth from 2012 to 2013, with an increase of 17%.  The Chinese renminbi is already entrenched as one of the top 10 most-traded currencies in the world. And the Chinese domestic bond market is already the fourth largest — and it’s growing at 30% a year!  The Reserve Bank of Australia has already announced that it plans to invest about 5% of its reserves in Chinese debt.  Since 2005, the renminbi has appreciated about 35% against the U.S. dollar.”

http://thesovereigninvestor.com/2013/11/01/u-s-dollars-days-numbered/

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Foreign investors: Why US bank may close your account

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“El Paso’s international trade traffic in 2011 was greater than the trade traffic passing through San Diego, Calif. and Nogales, Ariz. combined.  With such cross-border economic activity it is only natural for foreign businesses to maintain U.S. bank accounts in El Paso. Unfortunately, many of these commercial accounts are being closed by U.S. banks. Why is this happening? The answer can be traced back to the bank formerly known as the Hong Kong Shanghai Banking Corporation and its violations of the 2001 Patriot Act – transgressions that a U.S. Senate subcommittee investigated and resulted in the assessment of a $1.9-billion penalty to HSBC in July.”

http://www.elpasoinc.com/columns/article_897770d4-2ea6-11e3-bcfd-0019bb30f31a.html

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NSA monitored millions of French phone calls, Mexican President’s email

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“France and Mexico have angrily demanded prompt explanations from the United States following ‘shocking’ new spying allegations leaked by former US security contractor Edward Snowden. The reports published in French daily Le Monde and German weekly Der Spiegel reveal that the US National Security Agency secretly monitored tens of millions of phone calls in France and hacked into former Mexican President Felipe Calderon’s email account.  They come on top of revelations also leaked by Snowden and published in June that the US had a vast, secret programme called PRISM to monitor Internet users.”

http://www.rawstory.com/rs/2013/10/21/revealed-nsa-secretly-monitored-tens-of-millions-of-phone-calls-in-france-and-hacked-into-former-mexican-president-felipe-calderons-email-account/

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Bombshell: Iran Contra Whistleblower Blows The Lid off Benghazi

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“Money makes the world go round.  Nowhere is this motto more relevant than in the shadowy world of smuggling weaponry and drugs, not to mention legal arms sales which all too often lead to modern weaponry falling into the hands of America’s worst enemies.
This all becomes evident when dissecting recent events such as the 2011 ouster of Libyan leader Muammar Gaddafi, the death of US Border Agent Brian Terry with weapons obtained through the government’s ‘Fast and Furious’ program, the 2012 murder of US Ambassador Christopher Stevens in Benghazi, and the arming of Syrian rebels attacking the government of Syrian President Bashar Assad.”

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Man tries to float from Mexico to U.S. on duffel bag filled with pot

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“Border Patrol agents arrested a man who they said tried to float from Mexico to the U.S. on a duffel bag filled with marijuana.  Agents said Monday the man was stopped about a mile north of the border near San Diego after they heard reports Sept. 19 of someone swimming late at night in the Pacific Ocean.  The agents said the 55-year-old man was floating about 600 yards from shore.  The man told agents he was from Mexico, and he was taken into custody.  Agents said they found a little more than 52 pounds of pot inside the bag.  The marijuana was worth more than $23,000, agents said.”

http://www.rawstory.com/rs/2013/09/26/man-tries-to-float-from-mexico-to-u-s-on-duffel-bag-filled-with-pot/

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800 U.S. police round up 129 gang suspects in Mexican Mafia raid

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“About 800 local, state and federal law enforcement officers arrested 129 suspects indicted on a variety of murder, extortion, racketeering, drug and weapons charges in Orange County as part of ‘Operation Smokin’ Aces.’  Police said they seized 22 pounds of methamphetamine, 1.5 pounds of heroin and 3 pounds of cocaine, and the FBI said undercover officers purchased 38 handguns and 29 rifles in connection with the sweep. Investigators said members of the prison gang ordered assaults on 12 inmates, including one man whose head was stapled 20 times, in the Orange County Jail for failure to pay drug taxes.”

http://www.rawstory.com/rs/2013/09/25/police-round-up-129-gang-suspects-in-huge-mexican-mafia-raid-in-orange-county/

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