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PGR dismantles fuel theft ring in Tamaulipas as the gang was making off with 150,000 liters of stolen fuel
Mexican authorities busted three alleged members of a fuel theft ring accused of stealing at least 150,000 liters of oil.
The Federal Attorney General’s Office announced the arrests on Tuesday, but did not identify the gang by name. The suspects were captured in Reynosa, across the border form McAllen, Texas, a region controlled by the Gulf Cartel.
Two men and one woman were arrested in Tamaulipas last week and were also charged with drug possession after police found 53 small packages of heroin. One of the men was described as the ringleader of the theft ring and all three have been charged with organized crime activities and fuel theft.
Prosecutors told reporters that eight other members of the gang were apprehended earlier this month when they were found with 157,000 liters of fuel.
Over the weekend, Pemex reported that there has been a 55-percent increase in fuel theft through the first 11 months of the year compared to last year.
— Associated Press
Texas governor orders National Guard troops to remain at the Mexican border to face ‘challenge’ of unaccompanied minors
AUSTIN, Texas — Republican Texas Gov. Greg Abbott on Tuesday extended the deployment of National Guard troops at the Mexico border due to a spike in the number of unaccompanied minors entering the country.
The order comes in the wake of U.S. Border Patrol figures that show more than 10,000 unaccompanied children crossed into the United States in October and November. That is double the number of crossings in the same two months last year.
The uptick has already prompted Border Patrol to open two shelters in Texas and one in California.
“Texas will not sit idle in the face of this challenge,” Abbott said. “We will not be victimized as a state by a federal government’s apathetic response to border security.”
Former Gov. Rick Perry first deployed National Guard troops to the border in 2014. He sent more than 1,000, though only a few hundred have remained in recent months.
Abbott, who took office in January and approved a record $800 million dollars in state border security spending earlier this year, did not indicate how long the deployment would last.
— Associated Press
Plunging Mexican stocks force the cancellation of a much-ballyhooed initial public offering
Mexico’s Servicios Corporativos Javer SAPI has pulled its initial public offering after planning to raise as much as 2.3 billion pesos ($133 million dollars),.
The homebuilder, based in Monterrey, sent a filing to the nation’s stock exchange saying it’ll carry out the offer when “market conditions allow.” Javer, whose private-equity backers include Evercore and Southern Cross, planned to use the money raised to buy back some of its dollar bonds due in 2021. On Nov. 30, the company said it would repurchase up to $136 million dollars of the notes for 107 cents on the dollar, up from a previous price of 104.938 cents.
Mexico’s benchmark IPC index has slipped 3.5 percent in December ahead of this week’s meeting by the Federal Reserve, when U.S. policy makers are expected to raise their benchmark rate for the first time since 2006. The peso’s 4.4 percent decline this month has compounded Mexican stock losses in dollar terms for foreign investors.
Javer, which builds the most homes in Mexico with mortgages from government-run Infonavit, was seeking to become Mexico’s eighth IPO of 2015, the most in Latin America. The deal’s lead underwriter was a unit of Evercore. Local units of Spain’s Banco Santander SA and Brazil’s Grupo BTG Pactual SA, whose chief executive officer was arrested in Brazil on Nov. 25, were also bookrunners.
— Bloomberg News, legally distributed through NewsCred
A state in southern Mexico is restricting surrogacy as it had become a popular destination for foreign couples and gay males
The Tabasco state legislature is closing the door to foreign couples and male gays looking to have a child by surrogacy.
Surrogacy is the practice of hiring a woman to carry a fetus to term.
The Gulf coast state is currently the only Mexican state that allows surrogacy, supposedly on a non-commercial basis. It has attracted many foreign and gay couples looking to have children.
But the Tabasco state legislature voted 21-9 on Monday to restrict the option to Mexicans. It also says that couples looking for a child must include a mother aged 25 to 40 who can present proof that she is medically unable to bear a child.
Mexico has become a low-cost alternative to the United States, where surrogacy can cost $150,000 dollars or more.
— Associated Press