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Reuters
Reuters
Business

Mexico eyes U.S. return of $246 million confiscated from former official

Lopez Obrador Andres Manuel Lopez Obrador Mexico Texas United States
FILE PHOTO: Mexico's President Andres Manuel Lopez Obrador speaks during a news conference at the Secretariat of Security and Civilian Protection in Mexico City, Mexico March 9, 2023. REUTERS/Henry Romero/File Photo

The United States has said it will return money and assets confiscated from a convicted former senior Mexican state official that were worth over $246 million, Mexican President Andres Manuel Lopez Obrador said on Wednesday.

Hector Villarreal, a former finance minister for the northern border state of Coahuila, in 2014 pleaded guilty in Texas to money laundering after being charged with using his position to take out nearly a quarter of a billion dollars in fraudulent loans and laundering the funds in Texas and Bermuda.

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