Mexican university investigated for money laundering

On February 26, Mexico's Financial Intelligence Unit froze several bank accounts linked to the University of Hidalgo (UAEH)

Mexican university investigated for money laundering
English 05/03/2019 12:48 Leonor Flores Mexico City Actualizada 13:13

The Autonomous University of the State of Hidalgo (UAEH) is currently being investigated by the Ministry of Finance (SHCP)’s Financial Intelligence Unit (UIF) for allegedly laundering USD$150 million, according to the intelligence unit leader Santiago Nieto.

“It has come to our attention that the Autonomous University of Hidalgo received resources from Switzerland through bank accounts in 22 countries,” he stated in an interview.

In the framework of an agreement between the UIF and the government of Mexico City, the lawyer argued that it was important to maintain secrecy in the analysis and disclosure of information, refusing to provide further details on the investigation so as not to undermine the ongoing inquiry.

On February 26, the UIF informed that it had blocked several bank accounts of a state university for alleged money laundering.

Following a report issued by Mexico’s financial system on February 22, the intelligence unit detected that the educational establishment had received around USD$150 million. Simultaneously, the institution responded to a request by an international agency calling for Mexico’s cooperation on that particular case.

Yesterday, the Hidalgo State University issued an announcement claiming that the Mexican government had failed to follow due process in the investigation and denied the accusations. Furthermore, Adolfo Pontigo Logola, the dean of the university, stated that the institution would cooperate with the authorities concerned in any further investigations, though he warned that the UAEH would take legal action to defend the institution’s dignity.
 

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