Oceanografia CEO Amado Yanez Quizzed By Police Over Citi's Banamex Fraud
Oceanografia CEO Amado Yanez Quizzed By Police Over Citi's Banamex Fraud Reuters

Oceanografia's boss and majority shareholder, Amado Yanez, was questioned by police over his potential involvement in a fraud scandal, stemming from Citi's Mexico subsidiary, Banamex, which ended up costing the bank $235m.

Mexico's federal attorney general's office said in a statement that Yanez was held for questioning on 22 March after Yanez presented himself voluntarily.

The attorney general added that the office has also requested a temporary detention order that would forbid Yanez from travelling.

In February, Citi revealed that $400m (£243m, €290m) in fraudulent loans at Banco Nacional de Mexico – also known as Banamex – to Oceanografia had dragged down the bank's net income down to $13.7bn.

It cost the bank $235m in losses.

Since Citi unveiled the spate of fraudulent activity, Mexico's government took control of Oceanografia and launched a criminal investigation.