Jorge Díaz Serrano

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

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


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]


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]

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  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