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No smoking gun… yet (Monex and money laundering)

31 July 2012

Even before Andres Manuel Lopez Obradór raised the possibility of installing an “interim” president who would only serve until new presidential elections could be called, I had pointed out that such a scenario was not only possible, but had constitutional validity and there are precedents for doing so.

The most damning charge that has been raised and which would make annulling the election a reasonable alternative are various charges that the PRI financed its campaign with laundered money. What started as accusations of vote buying though distribution of MONEX debit cards has exploded into a much larger scandal with the accusations by U.S. businessman, José Luis Ponce de Aquino that his Frontera Television Network (which broadcasts in both the United States and Mexico) was paid for PRI advertising to be paid indirectly by MONEX. On June 14, Ponce de Aquino filed suit against the Peña Nieto campaign for 56 million dollars in unpaid advertising bills. The PRD jumped on the case, raising complaints about the triangulation of funds through the MONEX-PRI-FTN connection. Althoughy the PRI, the Peña Nieto campaign and the candidate himself initially denied any connection to MONEX, they have had to backtrack, and admit that at least twenty agreements between the bank and the campaign were in existence. (Source: Sin Embargo)

The Elections Tribunal does not seem to be searching for a “smoking gun” to allow them to annul the election — on the contrary, they appear to be doing everything possible to legitimize the June 1 results. But this makes it all that much harder for them to do so, and if they do confirm the Peña Nieto victory, it will be even more difficult to convince an very large sector of the Mexican population that the elections were democratic, fair or “free, genuine and credible.

2 Comments leave one →
  1. 27 June 2013 4:40 am

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  2. 22 July 2013 1:08 am

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