Antonio Castañon
Encyclopedia
Antonio Castanon is a Mexican
businessman.
, Switzerland
after attempting to withdraw $84 million USD from an account owned by Raúl Salinas de Gortari, brother of Mexican President Carlos Salinas de Gortari. Their capture led to the unveiling of a vast family fortune spread around the world amounting to hundreds of millions of dollars. A report by the U.S. General Accounting Office indicated that over $90 million were transferred out of Mexico and into private bank accounts in Switzerland and London, through a complex set of transactions between 1992 and 1994, using a private investment company named Trocca, all with the help of Citibank
and its affiliates. In 2008, the government of Switzerland turned over $74 million, out of the $110 million in frozen bank accounts held by Trocca to the government of Mexico. The Swiss Justice Ministry indicated that the Mexican government had demonstrated that $66 million of the funds had been misappropriated, and the funds, with interest, were returned to Mexico. The bank accounts were held at Pictet & Cie
, Citibank Zurich, Julius Baer Bank, and Banque privée Edmond de Rothschild
in Geneva and Zurich. Other funds were returned to third parties, including Mexican billionaire Carlos Peralta Quintero, who had given the funds to set up the investment company. Antonio and Paulina Castañon were released a couple weeks after the arrest.
Mexican people
Mexican people refers to all persons from Mexico, a multiethnic country in North America, and/or who identify with the Mexican cultural and/or national identity....
businessman.
Alleged money laundering
In November, 1995, Antonio Castañon and Paulina Castañon, Raúl Salinas's wife, were arrested in GenevaGeneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
after attempting to withdraw $84 million USD from an account owned by Raúl Salinas de Gortari, brother of Mexican President Carlos Salinas de Gortari. Their capture led to the unveiling of a vast family fortune spread around the world amounting to hundreds of millions of dollars. A report by the U.S. General Accounting Office indicated that over $90 million were transferred out of Mexico and into private bank accounts in Switzerland and London, through a complex set of transactions between 1992 and 1994, using a private investment company named Trocca, all with the help of Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
and its affiliates. In 2008, the government of Switzerland turned over $74 million, out of the $110 million in frozen bank accounts held by Trocca to the government of Mexico. The Swiss Justice Ministry indicated that the Mexican government had demonstrated that $66 million of the funds had been misappropriated, and the funds, with interest, were returned to Mexico. The bank accounts were held at Pictet & Cie
Pictet & Cie
-Pictet & Cie, Private Bankers, Geneva, Switzerland:Founded in 1805 in Geneva, Pictet & Cie is today one of Switzerland's largest private banks, and one of the premier independent asset management specialists in Europe...
, Citibank Zurich, Julius Baer Bank, and Banque privée Edmond de Rothschild
Banque privée Edmond de Rothschild
Banque Privée Edmond de Rothschild S.A. is a private bank headquartered in Geneva, Switzerland. It is exclusively dedicated to wealth management for private and institutional clients. It is a part of Edmond de Rothschild Group. It is listed on the Swiss Exchange...
in Geneva and Zurich. Other funds were returned to third parties, including Mexican billionaire Carlos Peralta Quintero, who had given the funds to set up the investment company. Antonio and Paulina Castañon were released a couple weeks after the arrest.