Pemexgate
Political scandal in Mexico / From Wikipedia, the free encyclopedia
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Pemexgate was a political scandal of the Mexican political party PRI that occurred during the presidency of Ernesto Zedillo (1994-2000) and was discovered and investigated during the presidency of Vicente Fox (2000-2006). It was centered on the transfer of 500 million pesos (US$53 million) to the PRI candidate for the 2000 Presidential Elections, Francisco Labastida Ochoa, from Pemex, Mexico's national oil company.
A year long of intense investigations, hearings, and negotiations occurred in 2002, but no one was prosecuted by the Procuraduría General de la República (PGR) in the end. The National Electoral Institute (IFE) still found PRI guilty of violating the electoral law and fined them a huge sum of over 1 billion pesos (US$97 million) for its failure to report the campaign funding diverted from Pemex. The fine was considered the largest in history, equal to the financing the PRI would have received from the fed in 2003 and half of 2004.[1]