MEXICO CITY, March 15 Creditors to Oceanografia,
a Mexican oil services company at the center of an alleged fraud
that forced Citigroup to cut its 2013 profit, have seized
a ship that was used as collateral for debt issued by the
Norsk Tillitsmann, the Oslo-based trustee for some of
Oceanografia's bonds, is preparing to sell the ship,
OSA Goliath, to recoup funds for lenders, according to a letter
published on Saturday on the trustee's website.
The ship was seized on Friday in Aruban waters on Norsk
Tillitsmann's request, the letter said.
A spokesman for Oceanografia, whose main business was
providing services for Mexico's state oil company
Pemex, did not immediately respond to a request for
Citigroup said last month it uncovered at least $400 million
in bogus loans to Oceanografia at its Mexican subsidiary,
Oceanografia had borrowed from Banamex using expected
payments from Pemex as collateral.
Mexico's government has taken control of Oceanografia and
begun a criminal investigation.
The FBI and the U.S. Securities and Exchange Commission are
investigating the transactions, people familiar with the probes