Mexico seizes company linked to loans at Citigroup unit

MEXICO CITY Fri Feb 28, 2014 12:26pm EST

MEXICO CITY Feb 28 (Reuters) - Mexico's attorney general's office said on Friday it had seized the assets of an oil services company to which Citigroup's Mexican unit had made loans.

Mexican Attorney General Jesus Murillo said authorities had taken the step against Oceanografia shortly after Citigroup said it had discovered fraudulent loans which would reduce the bank's 2013 net income by $235 million.

"The decision was made to seize the company immediately," Murillo told a news conference in Mexico City.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.