Mexico detains oil executive for possible fraud - WAOW - Newsline 9, Wausau News, Weather, Sports

Mexico detains oil executive for possible fraud

MEXICO CITY (AP) - Mexican authorities have detained the owner of a Mexican oil services company who allegedly defrauded Citigroup and may have used his professional soccer team to launder money.

An official at Mexico's Attorney General's Office said Monday that Amado Yanez showed up for questioning in the case Saturday. The official was not authorized to be quoted by name.

Yanez has been held since Sunday pending a prosecutors' request that a judge authorize a form of house arrest for him for up to 40 days.

He is suspected of committing fraud through the oil-services company he heads, Oceanografia SA de CV. Yanez also owns a team in Mexico's first division soccer league.

U.S.-based Citigroup says Oceanografia overstated by $400 million the business it was doing with Mexico's state-owned oil company Petroleos Mexicanos, or Pemex.

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