Former AHMSA executive paying $216 million to avoid prison

Wednesday, 21 April 2021 19:03:10 (GMT+3)   |   Sao Paulo

Alonso Ancira, the former board president of Mexican steelmakers Altos Hornos de Mexico (AHMSA), will pay $216 million as part of a deal to avoid prison, SteelOrbis has learned.

Additionally, AHMSA said in a statement this week the company and state-run oil company Pemex agreed that the Mexican steelmaker would pay a certain amount of money to end a pending lawsuit against Ancira.

Ancira will make three payments, the first in November 2021, another one in November 2022 and the last one in November 2023, to end the case. Alonso Ancira was extradited from Spain to face charges in Mexico.

Ancira was detained in Spain in May 2019 over corruption charges. Ancira claimed he was a victim of “political persecution.” The US Drug Enforcement Administration (DEA) had also been investigating Ancira over money laundering charges.

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