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Mexico & Nafta - April 2014 (ISSN 1741-444X)
Oceanografía scandal rocks political establishment
The financial fraud case affecting the Mexican maritime transport and services firm, Oceanografía, is causing political waves. The case, which involves the defrauding of Mexican and US banks, became a political scandal after it emerged that Oceanografía had contracts with Mexico’s state-owned oil firm, Petróleos Mexicanos (Pemex); and that the family of the former president, Vicente Fox Quesada (2000-2006), is linked to Oceanografía. The scandal is threatening to frustrate President Enrique Peña Nieto’s plans to have the secondary legislation necessary to implement the new energy reform, approved by congress last year with the help of Fox’s Partido Acción Nacional (PAN), in place by late April.
