Mexican finance ministry freezes AHMSA accounts on corruption charges

Tuesday, 28 May 2019 23:28:45 (GMT+3)   |   Sao Paulo

The Mexican ministry of finance and public credit, SHCP, has frozen the banking accounts of local integrated steelmaker Altos Hornos de Mexico (AHMSA) due to corruption allegations, Mexican officials said this week.

According to SHCP, AHMSA made “multiple transactions” domestically and outside Mexico that allegedly “do not come from licit activities.” SHCP said those transactions were corruption-originated.

The Mexican ministry said AHMSA is guaranteed the right to defend itself in a hearing. AHMSA will also be able to produce proof to defend itself.

SHCP said the accounts of AHMSA’s workers would be unblocked on Tuesday as a hearing is scheduled. The company’s accounts, however, remain frozen.

AHMSA said the freeze in the banking accounts does not jeopardize the company’s plans to pay creditors and re-list at local stock exchange Bolsa Mexicana de Valores, BMV.

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