Mexico orders arrest of Oceanografia CEO

The Mexican Attorney General's office has ordered the arrest of the chief executive of oil services company Oceanografia, which is at the center of a fraud probe involving Citigroup Inc's local unit Banamex.

Oceanografia CEO Amado Yañez is under police protection in hospital after undergoing emergency surgery on May 20, a statement from the attorney general's office said.

The attorney general's office held Yañez for questioning in March after Citigroup said it uncovered at least $400 million in bogus loans to Oceanografia at Banamex.

Source: Reuters