Mexico Executive Arrested for Fraud
Sep. 28, 1998
MEXICO CITY (AP) _ Mexican police have arrested an executive accused of helping banking magnate Angel Rodriguez bilk a financial firm out of $50 million, authorities said Monday.
Agustin Marquez Carrillo was arrested Sunday on charges of violating the country's banking laws by helping Rodriguez make a series of questionable loans in 1994 that left his Banpais bank in ruins.
The arrest comes amid a campaign by President Ernesto Zedillo to clamp down on white-collar crimes in the wake of the country's 1995 banking crisis, which saddled taxpayers with $55 billion in bad debts left by private banks.
Marquez Carrillo was arraigned at a Mexico City penitentiary on the charges. Rodriguez is currently free on bail.