Word: salinases
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Dates: during 1990-1999
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When Citicorp and Travelers in October 1998 closed what was then the largest merger in history, creating a $751 billion financial colossus, a piece of unfinished business kept resurfacing like a bad odor amid the celebrations and predictions of imminent world dominion. This was the so-called Salinas affair, the...
Salinas, the once high-living brother of disgraced former Mexican President Carlos Salinas, has been jailed in Mexico since 1995 on charges of illegal enrichment and murder conspiracy. He denies all the charges, and the murder case is now under way in Mexico City.
Meanwhile, in a report made public last Friday, the U.S. General Accounting Office, an investigative arm of Congress, concluded after an eight-month probe that Citibank helped Salinas build "a money-managing system that disguised the origin, destination and beneficial owner of the funds involved."
Noting that Citibank is cooperating with an ongoing Justice Department investigation of the Salinas matter, bank spokesman Richard J. Howe declined to answer specific questions about the GAO report. He said, without citing specific examples, that the report "contains errors of fact and interpretation" and that "it ignores recent progress...
The General Accounting Office, Congress's investigative arm, is not usually known for producing page-turning whodunits. But the agency's report on Friday recounting Citibank's money dealings with Raul Salinas, the Mexican presidential brother who's been rumored to have links with drug lords, comes close. "The report...