AHMSA makes first payment to government following deal over corruption charges

Wednesday, 24 November 2021 19:32:01 (GMT+3)   |   Sao Paulo
       

Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) said this week it made the first payment to the Mexican government, as part of a deal to end corruption charges.

AHMSA and the Mexican government agreed the steelmaker would pay $216 million in three payments to avoid the prison of Alonso Ancira, the company’s chairman. The first payment was expected for November, following two other payments: November 2022 and November 2023.

AHMSA sold a company to Mexican state-run oil company Petroleos Mexicanos (Pemex) at a high markup. Alonso Ancira was extradited from Spain to face charges in Mexico. Ancira was detained in Spain in May 2019 over corruption charges. Ancira claimed at the time he was a victim of “political persecution.” The US Drug Enforcement Administration (DEA) had also been investigating Ancira over money laundering charges.


Most Recent Related Articles

Mexico’s Grupo Collado posts increased profit and revenues in Q3

Mexican industrial output increases 1.7 percent in September

Ternium sees Q3 revenues rise in Mexico

Mexico declines to impose duties on Brazilian and Russian slab imports

Deacero opens office in Washington, D.C to support its US business