Draft:Miguel Zaragoza Fuentes (Mexican businessman)
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Miguel Zaragoza Fuentes is a Mexican businessman born in the 1930s in Ciudad Juárez, Mexico. He is the founder and owner of Grupo Zeta, one of the largest gas conglomerates in Latin America.[1]
Biography
[edit]Professional career
[edit]Miguel Zaragoza Fuentes founded Grupo Zeta in the 1930s.[2]. The company has become a major player in the gas market in Mexico and Latin America, controlling more than 14% of the Mexican national market and expanding its activities to the United States, Central America, the Caribbean, Peru, and Spain[3][4] Grupo Zeta includes more than 80 companies in 9 countries and employs over 7,000 people.[2]. Miguel Zaragoza Fuentes' fortune is estimated at more than two billion dollars[3][4]
International expansion
[edit]In the 1960s, Miguel Zaragoza Fuentes and his brother Eduardo partnered with Shell to create Tropigas, marking their entry into the Central American market.[5]. Later, Miguel Zaragoza took full control of Tropigas in Costa Rica, while his brother Eduardo retained operations in Honduras, El Salvador, and Nicaragua[5]
Personal life
[edit]Miguel Zaragoza Fuentes was married to Evangelina López Guzmán for 60 years, from 1953 to 2014. They had 11 children together.[6] In 2004, he had a daughter with Elsa Esther Carrillo Anchondo, a domestic employee[6]. This relationship led to the divorce between Zaragoza and López in 2014.
Controversies
[edit]Divorce proceedings
[edit]The divorce between Miguel Zaragoza Fuentes and Evangelina López Guzmán was highly publicized in Mexico. A Texas court initially ordered Zaragoza to cede a significant portion of his business empire to López, including companies such as Z-Gas in Mexico, Texas Gas & Oil in the Bahamas, and investment companies in Switzerland.[6] However, this decision was subject to appeals and legal battles up to the Supreme Court of Mexico.[6]. In 2018, the Court of Appeals for the First District of Texas annulled the divorce sentence and, consequently, the previously decided distribution of assets[2] One of the companies Zaragoza was supposed to cede, Texas Gas & Oil (TGO) Ltd., based in the Bahamas, turned out to be owned by his teenage daughter from his relationship with Carrillo. According to court documents, TGO transferred millions of dollars to Zaragoza and his second family for their personal use, including paying college fees for another of Carrillo's children.[3]
Tax evasion accusations
[edit]In 2018, the Costa Rican Ministry of Finance accused Gas Nacional Zeta S.A., a subsidiary of Grupo Zeta, of tax fraud amounting to more than 4.3 billion colones (about $7.5 million) for the period 2012-2015.[7]. The accusations included concealment of asset increases and the use of another transport company to create fictitious operations[7]
Allegations of monopolistic practices
[edit]In Costa Rica, Zaragoza's companies, Gas Nacional Zeta and Tropigas de Costa Rica, were accused of monopolizing the liquefied petroleum gas (LPG) market, controlling about 70% of imports and 82% of distribution.[5]. These practices led to protests by distributors and consumers in 2007[5]
Suspicions of money laundering and links to organized crime
[edit]In 2024, it was revealed that Crédit Agricole Indosuez had maintained business relationships with the Zaragoza family since 1998, despite recurring allegations potentially involving this family in money laundering, corruption, and drug trafficking.[4] A 2010 audit report mentioned that the Zaragoza family had a "most sulfurous reputation" and seemed "almost untouchable" thanks to their political and judicial contacts. Another report from 2012 mentioned alleged links between Miguel Zaragoza Fuentes and the leader of the Juarez cartel, Amado Carrillo Fuentes, as well as accusations that the Zeta Gas group had transported drugs for Mexican cartels.[4] Between August 2012 and July 2014, significant financial flows were recorded on the Zaragoza family's accounts, with inflows of about 46 million Swiss francs and outflows of about 44 million.[4]
References
[edit]- ^ a b "Embate por el gas". Proceso. March 9, 2008.
- ^ a b c d "Firmas 'suizas' encabezan disputa gasera". Swissinfo. October 2, 2018.
- ^ a b c d "México: La adolescente mexicana que es dueña de un emporio". Mexicanos Contra la Corrupción y la Impunidad.
- ^ a b c d e f "Une ex-directrice de la conformité de CA Indosuez sanctionnée". Gotham City. July 3, 2024.
- ^ a b c d e Ana Lilia Pérez (March 15, 2008). "Frenan a Zeta Gas en Costa Rica". Fortuna.
- ^ a b c d e "Pierde Miguel Zaragoza la mitad de su fortuna en juicio de divorcio". La Opción de Chihuahua. November 16, 2015.
- ^ a b c "Hacienda acusa a Gas Zeta de fraude fiscal por más de ¢4 mil millones". CRHoy. March 16, 2018.