Jorge Díaz Serrano

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Person.png Jorge Díaz Serrano  Rdf-icon.png
(businessman, politician, engineer, fraudster)
Born6 February 1921
Sonora, Mexico
Died25 April, 2011 (Age 90)
NationalityMexican

Jorge Díaz Serrano was a Mexican politician, and fraudster who did business with George H. W. Bush.

Career

George H. W. Bush admitted knowing Jorge Díaz Serrano, but claimed he only did business with him for 7 months. In fact, the duplicate SEC filings unearthed by Jonathan Kwitny revealed that they did (illegal) business for 4 years.[1]

He was in charge of Pemex during the oil boom years from 1976 to 1981, when Mexico jumped from the world's 24th to the 4th largest oil producer.[2]

Imprisonment

In 1983, Diaz Serrano was stripped of his congressional immunity and arrested on corruption charges. He remained imprisoned for the next 4 years, at which point he was found guilty on charges of receiving $34M of kickbacks for the purchase of two oil tankers and sentenced to 10 years plus time served. He contended that he was a scapegoat and the victim of a political vendetta. He was released after only 5 years, still protesting his innocence, and did not pay the $50M fine, claiming that he was unable to.[2]

6 February 1921|25 April 2011|


References

  1. Jonathan Kwitny, "The Mexican Connection: A look at an old George Bush business venture", Barron's September 19, 1988. Cited with further discussion by Russ Baker, Family of Secrets (New York: Bloomsbury Press, 2009) pp. 37 and 505.
  2. a b http://articles.latimes.com/1988-07-31/news/mn-10846_1_diaz-serrano