Propaganda
Mexico: Petrochemical Industry, Alcoa, China, Petroleum, Sabic under investigation

Mexico: Petrochemical Industry, Alcoa, China, Petroleum, Sabic under investigation

The Mexican government has charged seven major petro chemical companies with violating Mexican law and has issued subpoenas to Alcoab, Sabec, SABIC and Petroleums representatives, as well as officials from Sabic and Petros.

The government’s complaint accuses the companies of using foreign currency to circumvent foreign exchange controls.

The companies have denied the accusations.

The investigation centers on a complex web of companies, many of which have foreign operations, and their links to international drug cartels, according to the complaint.

The allegations are part of a multi-billion dollar drug cartel ring that has been linked to numerous crimes in Mexico and around the world, including the death of a drug lord in Mexico City in 2007.

In addition to drug trafficking, the complaint also alleges that Alcoav’s petro chemicals business has a role in the production of counterfeit drug pills, which are used in illegal markets.

Alcoav has denied the allegations.

Sabic’s spokesman told Reuters the company “takes its role in protecting and promoting Mexico’s environment very seriously,” adding that “any suggestion that we are engaged in such activities is completely false.”

Alcoab said in a statement that the company takes the allegations of its business activities very seriously and will continue to cooperate with the government.

“It’s important to note that Alcor, Sabac and Petrolum are not implicated in the investigation.

It is a case of a joint investigation by law enforcement authorities and a civil litigation initiated by the federal prosecutor, the company said.

Alcor and Sabac are facing allegations that they have profited from illegal drugs.

Alcor was the first company to be convicted of selling illegal drugs to the U.S. military, while Alcor and Alcor subsidiaries were among the biggest U.N. arms dealer for the Colombian government.

Sabac is the world’s biggest petro company, with more than 40 percent of the global market, according a Reuters report last year.

Alcoba, Saba and Petricom are not involved in the probe, but have denied any wrongdoing, according.

Alcapaba, which is controlled by the government of Mexico’s ruling Institutional Revolutionary Party (PRI), has denied wrongdoing and said it will defend itself in court.

Alcon, which has been in the business of petro, said in an e-mail that the investigation is “completely false and unfounded.”

Alcapab has denied any involvement in illegal activities.

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