AHMSA chairman arrested in corruption probe

Wednesday, 29 May 2019 00:04:31 (GMT+3)   |   San Diego

Yesterday, SteelOrbis reported that the Mexican Finance Ministry had frozen the accounts of local steelmaker Altos Hornos de Mexico (AHMSA) in the midst of an anti-corruption probe. Today, global news reports that the company's chairman, Alonso Ancira, has been arrested in Spain. In a statement, the company claimed to not know why Ancira was arrested.

Separately, a Mexican judge issued an arrest warrant for Emilio Lozoya, the former CEO of national oil company Pemex. According to a report from Bloomberg, the two arrests are linked to the corruption probe due to Pemex's purchase of a fertilizer plant sold by AHMSA in 2014. The $475 million price tag is alleged to be "overpriced," and potentially involved bribes. 

A spokesperson for AHMSA has denied any wrongdoing.

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