Pemex Files Suit to Recover Nearly $160 Million from Two Multinationals in Global Bribery Case

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Petróleos Mexicanos (Pemex) and its affiliate Pemex-Refinación (PREF) have filed a lawsuit in New York seeking to recover nearly $160 million from German multinational Siemens and South Korea's SK Engineering & Construction Co. Ltd.

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"Pemex takes allegations of corruption seriously and has zero tolerance for bribery or fraud as a method of doing business," said Diaz Reus Partner Carlos Gonzalez.

Petróleos Mexicanos (Pemex) and its affiliate Pemex-Refinación (PREF) have filed a lawsuit in New York - case number 12 Civ. 9070 (LLS) ECF - seeking to recover nearly $160 million from German multinational Siemens and South Korea's SK Engineering & Construction Co. Ltd. (SKEC) in a global bribery case.

According to the amended lawsuit, filed May 8, 2013 in U.S. District Court, Siemens and SKEC allegedly submitted an unrealistically low bid in 1996 to win a public contract for modernizing a Pemex refinery in Cadereyta, Mexico.

Michael Diaz, Jr., Global Managing Partner, Diaz Reus, the Miami-based law firm representing Pemex, said Siemens and SKEC then allegedly paid bribes to several officials at Pemex in exchange for processing fraudulent "cost overrun" invoices. Those invoices were apparently intended to fill the shortfall from the original underbid, according to Diaz.

"Pemex takes allegations of corruption seriously and has zero tolerance for bribery or fraud as a method of doing business," said Diaz Reus Partner Carlos Gonzalez. "Pemex intends to gather additional testimony and information related to this important global corruption case," he went on to say.

About Pemex
Petroleos Mexicanos (Pemex) is a decentralized public entity of the federal government of the United Mexican States. Pemex is Latin America’s largest company and Mexico’s chief economic engine. It is one of the few oil companies in the world involved in all aspects of exploration, distribution, and commercialization of its products. PREF is a subsidiary that processes, transports, and markets a wide range of products derived from crude oil, including gasoline, jet fuel, diesel fuel, oil, asphalts, liquefied petroleum gas, lubricants, and other refined oil products.

About Diaz Reus
Diaz Reus represents deal makers around the world with a focus on emerging markets. With experienced lawyers in the U. S., Latin America, Asia, Europe, and the Middle East, the firm is uniquely suited to handle a wide range of complex commercial, business, and financial transactions across international borders. Diaz Reus lawyers have experience in government relations, trade, compliance, customs, tax, and immigration matters, as well as internal and government investigations, complex litigation, and arbitration matters. Diaz Reus operates offices in Miami, Florida; New York City, New York; Caracas, Venezuela; Shanghai, China; Dubai, U.A.E.; Iraq; Frankfurt, Germany; Bogota, Colombia; Panama City, Republic of Panama; Mexico City, Mexico; Buenos Aires, Argentina; Santiago, Chile; and an affiliate office in Sao Paulo, Brazil. For more information, visit http://www.diazreus.com or http://www.jdsupra.com/profile/diazreus.

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