A former Pemex executive was slapped with a $165 million fine under a graft probe into the Mexican state oil giant’s purchase of a defunct fertilizer company, the government said Friday.
Pemex suffered major financial losses over its purchase of the near-worthless fertilizer plant, which had been sitting idle for years, for $475 million in 2014.
Edgar Torres, the former head of Pemex Fertilizers, received “a fine of 3.2 billion pesos ($165 million) for irregularities in the purchasing process,” the country’s civil service said in a statement Friday.
The Mexican press identified Torres as a close associate of former Pemex chief executive Emilio Lozoya, a top adviser to ex-president Enrique Pena Nieto.
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