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Mexico Oil Exec Investigated in $13 Million Fraud
 Patrick Rucker - Reuters
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May 24, 2010
Mexico City, May 23 (Reuters) - A senior official at Mexico's state oil company, Pemex, improperly traded discount fuel to her husband's company in transactions that cost the oil monopoly $13 million, local prosecutors said on Sunday.
Investigators said the Pemex official improperly traded discount fuel using several transactions between August and December 2008. One firm that benefited from the trades, Blu Trading, was founded by the Pemex executive's spouse three years ago, officials said.
The Pemex official, identified in local media as Maria Karen Miyasaki Hara, has been suspended but not yet been charged, federal investors said in a statement. In a statement published by local media late on Sunday, Miyasaki Hara denied wrongdoing and said she had not been properly notified about any charges.
"The modus operandi involved buying and selling loads of ultra-low sulfur diesel, with apparent economic benefit for foreign companies at the expense of Pemex," Mexico's public service watchdog said in a statement.
Pemex could not immediately be reached for comment.
(Editing by Doina Chiacu)
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