Oceanografia assets seized

摘要

Mexico's attorney general's office said on Friday it had seized the assets of troubled offshore oil services company oceanografia. The move came after Citigroup had to restate the group's fourth-quarter earnings and year-end results when it discovered fraud centring on a loan to the company from the bank's Mexican subsidiary Banamex. "It appears that invoices from OSA were falsified to represent that Pemex had approved them. A Banamex employee processed them, and as much as US$400m was misappropriated throughout the course of the fraud," said Citigroup CEO Michael Corbat in a memo.