- Two of InvestaBank's main shareholders are charged for a Money Laundering Scheme involving over $100 million
- The Mexican bank has removed Djemal's board privileges, but made no statement about Haiat, who died in 2015
- Sources confirmed that InvestaBank does not have enough money for the purchase
Just last October 26th, Deutsche Bank announced that, as part of its Strategy 2020, it had entered into an agreement to sell its Banking and Securities subsidiaries in Mexico to InvestaBank. However, the operation, that was expected to close in 2017, might be in jeopardy.
On Monday, the U.S Department of Justice issued a complaint charging two of Investabanks main shareholders, Carlos Djemal, and Isidoro Haiat for their role in an International Money Laundering Scheme involving over $100 million.
According to the U.S. Attorney’s Office, Southern District of New York’s release, allegedly and “since about June 2011 through in or about at least May 2016, Carlos Djemal, Isidoro Haiat, Braulio Lopez, Max Fraenkel, Daniel Blitzer, and Robert Moreno transferred funds through dozens of shell companies in the United States and Mexico as part of a scheme to fraudulently obtain tax refunds from the government of Mexico.”
Investabank has already removed Djemal from its Board and day-to-day operations but made no statement over Haiat's situation. Haiat, who died in June 2015, was the bank's main shareholder, with 15.56% ownership. Djemal owned 15.14% totalling a 30.70% stake involved in the investigation. The bank also stated that is still looking to buy Deutsche Bank’s subsidiaries. However, Funds Society has learned that, although Investabank claims Abraaj Group is supposedly still interested, and willing to up their stake in the operation (which could not be confirmed with the group since the information was received after business hours in Mexico), other investors have backed out for now and Investabank does not have the sufficient funds to go ahead with the purchase.
This happens while Deutsche Bank is still looking to settle a U.S. Justice Department $14 billion fine related to a set of high-profile mortgage-securities probes stemming from the financial crisis. Funds Society also contacted Kerrie McHuch at Deutsche Bank to confirm InvestaBank’s release stating the German Bank was still looking to sell to them their subsidiaries and has not yet received an answer.