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 News Around the Republic of Mexico | June 2008 
Swiss Will Return Salinas Funds Worth $74 Million to Mexico
 Marc Wolfensberger - Bloomberg
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Switzerland will return $74 million in funds to Mexico after authorities proved the cash had been `misappropriated' by the family of former President Carlos Salinas.
Mexican authorities used bank documents and other papers to show how the funds, which were frozen on money-laundering charges in 1995 and worth about $110 million at the time, had been moved to Swiss banks in Zurich and Geneva, Paul Perraudin, the prosecutor in charge, said in an e-mailed statement today.
Switzerland in 2002 gave documents concerning its probe into Raul Salinas, the jailed brother of the former president, to Mexican authorities to help them prove the criminal origin of the funds. The procedure, which was stalled while former Mexican President Vicente Fox was in power, took on new urgency after Felipe Calderon was elected president in December 2006.
The remainder of the assets will be unfrozen and returned to Salinas' family because the investigation didn't reveal any "criminal origin," the prosecutor said.
Raul Salinas was jailed for the murder of his former brother-in-law Jose Francisco Ruiz Massieu and on suspected embezzlement of government money during the 1990s. He has said the funds in his Swiss bank accounts came from businessmen who entrusted him to invest the money.
To contact the reporter on this story: Marc Wolfensberger in Bern at mwolfens(at)bloomberg.net |
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