Mexican real estate trusts drop CIBanco as trustee after US sanctions
Photo: BBC
Mexican real estate trusts Terrafina and Fibra Inn on Friday said they would remove lender CIBanco as their trustee, after U.S. sanctions over money laundering accusations caused Mexican authorities to step in to manage the bank earlier this week, News.az reports citing Investing.
The U.S. Treasury on Wednesday prohibited certain transactions with CIBanco, as well as bank Intercam and brokerage Vector Casa de Bolsa, under new fentanyl-related sanctions. All three firms deny the money laundering allegations.
President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S.
Mexico’s banking regulator will temporarily manage the three financial insitutions.
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